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Topic: Lithuanian litas


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In the News (Thu 17 Dec 09)

  
  Lithuanian litas - Medbib.com, the modern encyclopedia
The first litas was introduced on October 2, 1922, replacing the ostmark and ostruble, both of which had been issued by occupying German forces during World War I. The litas was established at a value of 10 to 1 to the United States dollar and was subdivided into 100 centų.
The litas was replaced by the Russian ruble in 1941 after Lithuania was annexed by the Soviet Union, with 1 litas equal to 0.9 ruble, when the actual worth of the litas was about 3-5 rubles.
On February 2, 2002 the litas was associated with the euro at a rate of 3.4528 to 1 and this rate is not expected to change until the litas is replaced by the euro (on January 1, 2010 at the earliest).
www.medbib.com /Lithuanian_litas   (5027 words)

  
 Prospects for the Litas: the Impact of the Russian Crisis - Kairys, Sabunas
Dollarizing the Lithuanian economy would be a drastic step, and we present it here only to highlight that it exists as a possible alternative to defending the existing litas exchange rate at the cost of potentially crippling interest rates.
The devaluation of the litas from LTL 4.00 = USD 1.00 is necessary based on the cumulative inflation in Lithuania since the litas was introduced in 1993 against cumulative inflation in the European Union and the United States.
The pegging of the litas in 1994 was a good policy choice to establish the credibility of a newly introduced currency, as well as to serve as an anchor until the lingering effects of the hyperinflation from the collapse of the Soviet Union could be purged from the economy.
www.lituanus.org /1999/99_3_02.htm   (7830 words)

  
 Finance Choices - Personal Finance Wiki
The Lithuanian lands were united by Mindaugas in 1236, and neighboring countries referred to it as "the state of Lithuania".
The Lithuanian government at the time was relocated to Kaunas, which officially held the status of temporary capital.
The Lithuanian head of state is the President, elected directly for a five-year term; he or she may serve a maximum of two consecutive terms.
www.financechoices.co.uk /personal-finance-wiki.php?title=Lithuania   (3786 words)

  
 Language Reference Guide For Lithuanian
Lithuanian equivalents of 'you' and 'your' often begin with upper case (depending on the style of the document).
Lithuanian is the native language of the Republic of Lithuania, where it is spoken by over 3 million people, about 80 percent of the total population.
Lithuanian is one of the official languages of the European Union.
www.translationdirectory.com /article763.htm   (975 words)

  
 Calculator for Lithuanian Litas (LTL) Currency Exchange Rate Conversion
Enter the amount to be converted in the box to the left of the currency and press the "convert" button.
The Lithuanian Litas is the currency in Lithuania (LT, LTU).
The Lithuanian Litas is divided into 100 centu.
coinmill.com /LTL_calculator.html   (323 words)

  
 Frank Passic: Lithuania Redesigns its Circulating Coinage
Lithuanians have seen the introduction of more "user-friendly" small change during the past two years.
This 1 Litas banknote dated 1994 featuring legendary writer Zemaite is one of three denominations being replaced by the new coins.
Anyone interested in the hobby of Lithuanian numismatics (coins, banknotes, medals, tokens, military medals and decorations, etc.) is invited to join the Lithuanian Numismatic Association, P.O. Box 22696, Baltimore, MD 21203.
lithuanian-american.org /bridges/bal99/coins.html   (474 words)

  
 The Baltic Review
Although Euro continued, for a long time to be weak against Litas, the EU member states absorb more than half of the export of Lithuania (in the past year 43.7%), the export to the CIS accounting for significantly less than 20% (in the past year 32.2%).
Lithuanian manufacturers repeatedly urged the Bank of Lithuania and the Government to reorient the Litas and to consider the expediency of devaluing it.
Lithuanian financial analysts have calculated that should Litas have been "readjusted" at the beginning of the past year, the Lithuanian economy could have enjoyed the nearly 2% gain in GDP.
www.tbr.ee /issues/vol21/litas.html   (675 words)

  
 R.Paukštytė english
Lithuanian films have been selected by experts to be featured by diverse and prestigious film festivals.
Lithuanian Ministry of Culture – 320,000 litas; the remainder of the budget, around 3,000,000 litas, was contributed by foreign investors.
Lithuanian film directors and producers went out off their way to continue shooting films even at the time when the state lacked not only more solid money for that, but also legal basis for foreign co-production.
www.mediadesk.lt /249   (3986 words)

  
 Lithuania Travel Information | Lonely Planet Destination Guide
The ancestors of the modern Lithuanians were known as Balts and probably reached the area from the southeast around 2000 BC.
Lithuanian gentry adopted Polish culture and language, Lithuanian peasants became serfs, and the joint state became known as the Rzeczpospolita (Commonwealth).
Sajudis won 30 of the 42 Lithuanian seats in the March 1989 elections for the USSR Congress of People's Deputies and, in December, the Lithuanian Communist Party broke away from the Communist Party of the Soviet Union.
www.lonelyplanet.com /worldguide/destinations/europe/lithuania?v=print   (1975 words)

  
 [No title]
Following the restoration of the independence of Lithuania in 1918 and the introduction of the Lithuanian monetary unit, the litas, on 1 October 1922, the minting of coins was started after some time.
Among the latter, 2 and 5 litas coins are bimetal.
The first commemorative 10 litas cupronickel coin was issued to mark the 60th anniversary of the flight across the Atlantic by Steponas Darius and Stasys Girėnas.
www.lithuanian-mint.lt /en/apie_istorijam.html   (390 words)

  
 The Actual Interview
Lithuanians are satisfied with these results, and especially with the democratic process of the elections.
Lithuanians are indeed satisfied with the political situation of the country, however the economical stability has not reached a satisfying level yet and presents the population with quite a few problems and restrains.
Lithuanian currency, litas, has been tied to the American dollar since 1994, and has remained unchanged so far at 4 litas to 1dollar.
www.mtholyoke.edu /~vpodagel/tete.htm   (554 words)

  
 Bank of Lithuania
The History Institute of the Lithuanian Academy of Sciences was authorised to prepare recommendations on the perpetuation of famous persons and architectural monuments on the Lithuanian banknotes.
It was determined that one litas was equal to 100 “talonas”.
Presently all Lithuanian circulation and commemorative coins are minted in the Lithuanian Mint.
www.lbank.lt /eng/museum/events_currency.html   (801 words)

  
 Central Europe Review - Lithuanian News Review
Apparently hundreds of millions of litas are owed to farmers for subsidies from the Rural Support Fund.
The Lithuanian government granted the NATO force the Pabradė training area for free, but all costs were covered by the Italians.
Lithuanian prosecutors do not have information that link Gečas to war crimes, and Scottish officials have not pursued an earlier claim against the elderly Scottish resident.
www.ce-review.org /00/2/lithuanianews2.html   (1708 words)

  
 Lideika, Petrauskas, Valiūnas and partners - Publications
Lithuanian authorities pledged to extend to the buyer of Mažeikių Nafta a loan and loan guarantees, plus concessions for the use of infrastructure.
The Litas was pegged to the euro at a fixed exchange rate of LTL 3.4528 to EUR 1.
The average interest rate on 6- to 12-month loans in Litas fell from 9.8% in 2001 to 6.8% in 2002, while that on 1 to 5- year loans slumped from 8.9% to 7.2%.
www.lawin.lt /book/economy.php   (4640 words)

  
 Lithuanian Resistance to Foreigh Occupation
By the spring of 1941, the Lithuanian Litas, the unit of currency, was banned.
The Lithuanian press served to unite the people against the oppressor, to provide communication from the resistance leadership to the people, to warn the populace of the policies of the occupier, and to provide uncensored news from abroad.
Many active partisans wore old Lithuanian military uniforms, emphasizing the fact that they were uniformed combatants engaged in warfare, not bandits engaged in criminal acts, as the Soviets attempted to portray the resistance.
www.lituanus.org /1988/88_3_01.htm   (7787 words)

  
 Lithuania travel guide - Wikitravel
Lithuanians are always eager for an opportunity to practise their English, but those who learn a few basic phrases of the local language are always amply awarded with good will and appreciation for their efforts.
You should also try to remember that the Lithuanian capital is Vilnius, not Riga, which is the capital of neighboring Latvia.
This mistake is not as insulting, because Lithuanians and Latvians have always had good relations, but it is a frequent mistake and tends to annoy locals.
wikitravel.org /en/Lithuania   (1297 words)

  
 AMBASADA.lt - International information portal   (Site not responding. Last check: 2007-11-05)
The official currency of the Republic of Lithuania is Lithuanian Litas (LTL).
Litas is pegged to EUR at the official rate of Litas 3,4528 to EUR 1.
Lithuanian companies and individuals are allowed to hold bank accounts outside Lithuania however they must report about the bank accounts opened and closed abroad to the Lithuanian tax authorities.
www.ambasada.lt /default.asp?DL=E&editionID=17&topicID=393&articleID=1162   (262 words)

  
 ECB: Lithuanian litas included in the Exchange Rate Mechanism II (ERM II)   (Site not responding. Last check: 2007-11-05)
The central rate of the Lithuanian litas is set at 1 euro = 3.45280 litas.
The agreement on participation of the litas in ERM II is based on a firm commitment by the Lithuanian authorities to pursue sound fiscal policies which are essential for preserving macroeconomic stability and ensuring the sustainability of the convergence process.
The Lithuanian government’s aim to secure a balanced budget over the medium term needs to be underpinned by a credible medium-term strategy with ambitious budgetary targets.
www.ecb.int /press/pr/date/2004/html/pr040627_1.en.html   (316 words)

  
 Central Europe Review - Lithuanian News Review
Balčytis is accused of funnelling funds earmarked for storm relief estimated at LTL (Lithuanian Litas) 84,500 into his own companies, and he has been suspended by his party already.
However, this is tempered by using the US dollar as the comparative figure, as the Lithuanian litas is pegged to the dollar and the Estonian kroon is pegged to the German mark - and we know what has happened in their respective exchange rates over the year.
The only Lithuanian cardinal in four centuries, Sladkevičius is regarded highly by Lithuanians and in the Catholic Church.
www.ce-review.org /00/22/lithuanianews22.html   (1147 words)

  
 News from Lithuania
The outflow of Lithuanian workers to Western European countries is crating serious labor shortages in major Lithuanian cities, to the point that some of EU advisors are advising that, in order to sustain the present economic growth, Lithuania should ease restrictions to allow entry of foreign workers from the Eastern countries.
The Lithuanian Parliament (Seimas), day after receipt of the final report of the Special Commission, voted 62 to 11, with 3 abstentions, to proceed with the impeachment trial of Country's President R. Paksas and to request the Constitutional Court for their opinion regarding the alleged actions of the President.
The Lithuanian parliament, by the vote of 74 to 28, on 7/1/02 adopted a resolution recommending to the Government in the negotiations with EU to seek a 7-10 year transitional period regarding the ban on sales of agricultural land to foreigners.
www.vaitasassociates.com /new.htm   (9005 words)

  
 PALWAUKEE AIRPORT (ILLINOIS) FEATURED ON LITHUANIAN BANKNOTE
He served in the Lithuanian Air Force for 5 years, and was promoted to the ranks of flying officer, and flight lieutenant.
The aviator was concurrently intensively involved in many Lithuanian sports organizations and established himself there as a leader in the athletic world.
The Lithuanian litas officially became tied to the Euro on February 2, 2002 at a rate of 3.4528 litai equaling 1 Euro.
www.michigancoinclub.org /palwaukee.html   (1328 words)

  
 Teach English in lithuania, Information on International House Schools in lithuania   (Site not responding. Last check: 2007-11-05)
Lithuanians are a branch of the Balts whose settlement dates back to around 200 B.C.The first Lithuanian state was established by the Grand Duke Mindaugas in 1230.
Lithuanians are very proud of their traditions and their national heritage.
Although to pick up a little of Lithuanian —be warned, it is extremely difficult to learn!- will place you at an advantage.
www.ihworld.com /directory/countries.asp?country=LT   (1366 words)

  
 Lithuanian litas, Lithuania currency guide and exchange rates   (Site not responding. Last check: 2007-11-05)
The litas is fixed against the Euro at 3.45, but will fluctuate against the US dollar and Sterling.
On March 23rd 2006, the litas was valued at around 2.86 against the dollar 3.45 against the Euro and 4.98 against Sterling.
On March 23rd 2006 the litas was valued at around 4.83 against Sterling.
www.investica.co.uk /lithuaniatourist.htm   (230 words)

  
 LFMI: Articles, Papers There's Security in Securities   (Site not responding. Last check: 2007-11-05)
Notably, this increase has not boosted the profitability of Lithuanian companies yet, but this may be attributed to fairly large depreciation costs related to capital investments.
The Bank of Lithuania has proclaimed that the litas will be re-pegged to euro on February 2, 2002 at the exchange rate of euro to the U.S. dollar announced by the European central bank on that day.
For investors, knowing the circumstances of litas re-pegging and being certain about the continuity of the current monetary policy are crucial for revising their investment portfolios accordingly and avoiding possible pitfalls of exchange rate fluctuations.
www.freema.org /Articles/Cmarket.phtml   (1871 words)

  
 Lithuania Tourist Traps - Travel Guide - VirtualTourist.com
Local Currency Lithuanian litas (Lt) come in denominations of 10Lt, 20Lt, 50Lt, 100Lt, 200Lt and 500Lt notes; 1, 2 and 5 litas coins, plus a number of weightless centai that are worth very little and generally annoy.
Lithuanian is written in the Latin alphabet, with additional diacritical marks.
Lithuanian emigrants and deportees, dispersed in the West and in the East, with tears in their eyes, great pain in their hearts took with them their songs, customs and handiwork, the traces of which can be found in many places of the world.
www.virtualtourist.com /travel/Europe/Lithuania/Tourist_Traps-Lithuania-BR-1.html   (1712 words)

  
 NSEL 30 Index Fund
Lithuanian time on day X, the investor acquires shares for the distribution price which will be set on the same business day (day X) before 5:00 p.m.
Lithuanian time on day X, the investor acquires shares for the distribution price which will be set on the next business day (day X+1) before 5:00 p.m.
Since the Lithuanian Litas is linked to the Euro (1 EUR = 3.4528 LTL), investors can pay in Euros.
www.indexfund.lt /en/pages,id.131   (472 words)

  
 Lithuania Litas and Lithuania currency information including currency exchange rates
The Lithuanian Litas (plural Litai), denoted by LTL, is the official currency of Lithuania.
The Lithuanian government is led by its president, who in a five-year term, serves as both head of state and commander in chief over foreign and security policy.
The Lithuanian parliament is unicameral; entitled the Seimas, the parliament has 141 members that are elected for a four-year term.
www.gocurrency.com /countries/lithuania.htm   (482 words)

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