Vladas Jurgutis is the father of what currency introduced in 1922?
Lithuanian litas The Lithuanian litas (ISO currency code LTL, symbolized as Lt; plural "litai" (nominative) or "litų" (genitive)) was the currency of Lithuania, until 1 January 2015, when it was replaced by the euro. It was divided into 100 centų (genitive case; singular "centas", nominative plural "centai"). The litas was first introduced on 2 October 1922 after World War I, when Lithuania declared independence and was reintroduced on 25 June 1993, following a period of currency exchange from the ruble to the litas with the temporary talonas then in place. The name was modeled after the name of the country (similar to Latvia and its lats). From 1994 to 2002, the litas was pegged to the U.S. dollar at the rate of 4 to 1. The litas was pegged to the euro at the rate of 3.4528 to 1 since 2002. The euro was expected to replace the litas by January 1, 2007, but persistent high inflation and the economic crisis delayed the switch. On 1 January 2015 the litas was switched to the euro at the rate of 3.4528 to 1.
Currencies of the European Union There are eleven currencies of the European Union as of 2015 , the principal currency being the Euro. The Euro is used by the institutions of the European Union and by the Eurozone states, which account for 19 of the 28 member states of the European Union. All but two states are obliged to adopt the currency; Denmark and the United Kingdom, through a legal opt-out from the EU treaties, have retained the right to operate independent currencies within the European Union. The remaining eight states must join the ERM II and attain the third stage and adopt the Euro eventually.