Press Release: Lithuania to join euro area and single supervisory mechanism (SSM) on 1 January 2015

The Council of the European Union formally approved the accession of Lithuania to the euro area on 1 January 2015 on the 23 July 2014 and determined the euro conversion rate of the Lithuanian litas at 3.45280 to 1 (coinciding with the level of the current central rate of the litas in the exchange rate mechanism ERM II).

The European Central Bank (ECB) and Lietuvos bankas agreed to monitor developments in the foreign exchange market of the Lithuanian litas against the euro until 1 January 2015.

• Primary Source

ESO: Background information: Lithuania and the euro http://www.europeansources.info/record/lithuania-and-the-euro/

ESO: Background information: Lithuania to adopt euro on 1 January 2015 http://www.europeansources.info/record/press-release-lithuania-to-adopt-euro-on-1-january-2015/

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