It was an official currency of Lithuania until 1st January 2015, with currency code LTL and symbol Lt. In January 2015, Lithuania Litai was replaced with euro. The Litai was introduced as an official currency for the first time in 1922. During the German occupying in World War I, two currencies, ostmark and ostruble were issued. After the World War I, Lithuania was declare as an independent state and new currency Litai was introduced by replacing the ostmark and ostruble. From 1994 to 2002, Litai was pegged to United State dollar at rate 4 to 1. It was also pegged to euro at rate 1 euro to 3.4528 Litai. In January 2007, Litai was expected to be replaced with euro, but economic crisis and tireless high inflation postponed the switch. On 1st January 2015, the Lithuania Litai was switched to euro at rate 3.4528 to 1.
Lithuania Litai coins were issued in 1925 in denomination of 1 litas, 2 litu, 5 litai and 1 centas, 2, 5 centai and 10, 20, and 50 centu. The coin of 10 litu were issued in 1936. All coins were designed and shaped by the sculptor, Juozas Zikaras. Banknotes were issued in 1922 in denomination of 1 centas, 2 centu, 5 centai, 10, 20, 50-centų, and 1 litas, 2 litu, 5 litai, 10, 50, 100 litų. The banknotes of 500 and 1000 litu were issued in 1924. The banknote of 5 litai was replaced with coin in 1925.
In April 1941, during the Soviet and German occupation, litai was replaced with other currencies, ostruble and ostmark. The litai became Lithuania currency again in 1993. The new series of coins and banknotes were introduced. The banknotes in denomination of 1 litas, 2, 5 litai, 10, 20, 50, 100 litų and coins in denomination of 1 centas, 2, 5 centai, 10, 20, 50-centų, and 1 litas, 2, 5 litai were introduced.
On 23rd July 2014, the Council of European Union adopted decision allowing the Lithuania to adopt the euro as its official currency. Until 16th January 2015, litai and euro both were legal tender in Lithuania.