First shipment of Lithuanian euro coins delivered to central bank’s vaults

“This is one more important step in the marathon of preparatory work, in the effort to make the currency changeover to go smoothly. After the decision of the EU Council on allowing Lithuania to adopt the euro, the Lithuanian Mint is minting euro coins at full capacity; they are being delivered to the vaults of the Bank of Lithuania. From here, as of 1 October, they will we delivered to commercial banks and, prior to the euro adoption date, the coins will reach businesses,” says Vitas Vasiliauskas, board chairman of the Bank of Lithuania.

In transferring the euro and euro cent coins, particular attention is paid to security: the Bank of Lithuania’s armoured transport is used, accompanied by armed guards and the police. The coins are transported in special containers.

The Bank of Lithuania and the Police Department under the Ministry of Internal Affairs agreed in April to cooperate in ensuring secure transfer of the euro and litas banknotes and coins.

The agreement provides that both institutions will cooperate in transferring the bank’s material assets in the territory of the Republic of Lithuania, how necessary information on ensuring the security of the assets will be exchanged. It was also agreed on the use of a common radio channel.