In order to reduce the number of one- and two-cent coins in circulation, the final amount of a basket of goods or services in Lithuania will be rounded to the nearest five cents from next May if the purchase is made in cash, the Seimas of Lithuania decided on Thursday.
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65 MPs voted for such legislative amendments, 20 MPs were against, and 31 MPs abstained.
From May 2025 cash payments, the final purchase amount will be rounded to the nearest five cents. An amount ending in one, two, six, or seven cents will be rounded down, and an amount ending in three, four, eight, or nine cents will be rounded up.
In addition, one and two cent coins will not be withdrawn from circulation and can continue to be used for payments.
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Rounding will not be used in non-cash payments, currency exchange, cash transfers, cash deposits and withdrawals.
In cash payments, amounts are already rounded up to five cents in the six eurozone countries – Belgium, Italy, Ireland, the Netherlands, Slovakia and Finland.
It has already been reported that the Bank of Latvia has developed a draft law that envisages rounding up cash payments to five cents, while removing one and two cent coins from circulation.
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Estonia also plans to reduce the use of one- and two-cent coins from next year. When paying with cash, it will still be possible to pay in stores with one and two cent coins, but in these denominations the balance will no longer be given, as the total amount of the shopping basket will be rounded to the nearest five cents.
Photo: LETA
Tags: order reduce circulation cent coins Lithuania amount shopping basket rounded year BauskasDzive .lv
