One-fifth of euro coins and notes sub-frontloaded to Lithuanian companies

DELFI / Šarūnas Mažeika

According to Vitas Vasiliauskas, commercial banks have sub-frontloaded 18 percent of coins and more than 15 percent of banknotes to companies. Meanwhile, the central bank has frontloaded around 99 percent of coins and 90 percent of banknotes to commercial banks.

“According to the latest data related to units, approximately 186 million coins and some 32 million banknotes have been frontloaded … to commercial banks. As far as sub-frontloading is concerned, the numbers are approximately 33 million coins and 4.5 million banknotes,” he said at a news conference on Monday.

The amount of litas cash had decreased considerably, Vasiliauskas said.

“The decrease is approximately 40 percent, from around 11 billion litas (EUR 3.188bn) early this year to some 7 billion litas now,” he said.

Lithuania will adopt the euro on Thursday, 1 January.

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