Lithuania, nestled in the heart of Eastern Europe, is a nation steeped in history and culture. Its heritage is evident in its architecture, traditions, and currency. The Lithuanian litas, the country’s former currency, holds a special place in the nation’s story.
The litas emerged as Lithuania’s official currency in 1922, replacing the ostmark, which had been in circulation during the German occupation of World War I. The litas was pegged to the US dollar and remained stable for several years. However, the global economic crisis of the 1930s led to the devaluation of the litas.
The litas underwent several changes over the years, with new designs and denominations being introduced. The most notable change occurred in 1993, when the litas was pegged to the Special Drawing Rights ( SDR) of the International Monetary Fund. This peg remained in place until Lithuania joined the European Union in 2002.
The Plastic Banknote: A 24-Karat Glimpse into Lithuania’s Legacy
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