Preparations for euro adoption gain momentum in Lithuania with signing of memorandum of mutual understanding between the central bank of Lithuania and the country's commercial banks on Thursday.

By signing the memorandum banks commit that they will serve clients on longer hours and offer them favorable conditions on cash operations when the most active period of currency exchanging comes, announced the Bank of Lithuania.

According to the institution, the memorandum is directed to ensure smooth transfer to euro for business and people.

"Banks will have a very important role when changing litas to euros," said Vitas Vasiliauskas, chairman of the Bank of Lithuania, in a statement.

"Memorandum covers essential aspects of banks' activity, and should help avoid delays and negative emotions arising from possible long queues when increased client activity occurs," added Vasiliauskas.

The memorandum was signed by the Bank of Lithuania with the banks processing cash operations - Citadele, Danske bank, DNB, Finasta, Medicinos bankas, Nordea, SEB, Swedbank and Siauliu bankas. Endi

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