Lithunians Anxiously Introduce the Euro

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By Ben Myers

Euro - European Central Bank
FRANKFURT AM MAIN, GERMANY – MAY 14, 2014: Euro sign in front of the European Central Bank (Europaeische Zentral Bank)

Much of the world celebrated the incoming new year with friends and family without giving a thought to the value of their currency. In Lithuania, general citizens, financial analysts and government officials anxiously awaited the unveiling of the Euro as the official new currency of the country.

As merchants continue accepting both forms of currency for the next two weeks, residents have begun discussing the pros and cons of keeping their Litas as a keepsake for future generations to enjoy. Investors and specialists in foreign currency trading have a different take on the trend. While the few remaining European countries make gradual transitions to the new and universal currency, investors are anticipating the opportunity for more precise trading platforms.

Comparing major currencies such as the Euro and US dollar requires a certain amount of research and analysis. These skills certainly grow with experience, and frequent traders take advantage of the chance to profit from a major change in less common currencies from around the world.

Lithuanian business owners and households may fear that inflation or some other capitalization may occur as their country’s currency changes over to the Euro. Experts have confirmed that neither the Euro nor the value of the Lita will be undercut or highly impacted by the change since both currencies have been intertwined for more than a decade. Overall, the impact on businesses, households and the general economy should be minimal, but investors have the unique ability to marginalize their portfolios by adding a new holding as the extinct currency disappears from the trading lineup.

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