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Wed, 13 Aug, 2014 12:00:47 AM FTimes- Xinhua Report, August 13
Bank of Lithuania, the Baltic country's central bank, received the first euro coins on Tuesday.
The coins were delivered to the bank's vault in Vilnius.
"This is one more important step in the marathon of preparatory work, seeking for the currency exchange to go smoothly," said Vitas Vasiliauskas, chairman of the central bank.
"After the decision of the EU Council on allowing Lithuania to adopt the euro, the Lithuanian Mint is minting euro coins at full capacity," he added.
According to Vasiliauskas, first coins will be delivered to the commercial banks from Oct. 1.
The central bank didn't disclose the exact amount of first coins received. According to the bank, the whole amount of euro coins necessary for the euro adoption and reserves are about 370 million coins weighing 1,740 tonnes.
The Lithuanian circulation euro coins will bear three images with the symbol of the coat-of-arms of the State of Lithuania, called Vytis.
According to the bank, this was the wish of the majority of Lithuanians expressed during a public opinion poll.
Meanwhile, the euro banknotes will be borrowed from one of the central banks of the euro zone's member states at the start of Lithuania's membership in the single currency bloc, officials from the central bank said.
Lithuania will become the 19th member of the eurozone as of Jan. 1 of 2015.
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