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Eurozone's newest member: Lithuania

Jan 1,New Delhi: As of Jan. 1, Lithuanians can swap their old currency -- litas -- in exchange for euros. It is the 19th country to join the currency union.

Bank branches are increasing staff levels across the country to accommodate for an influx of people who will be coming in to change their cash.

The small former Soviet nation has been preparing for the currency switch since European Union finance ministers formally announced in July that the country could adopt the euro.

The Lithuanian central bank forecasts that adopting the euro will be positive for the nation's economy. It's expecting a big jump in trade and a rise in employment levels at the outset.

Lithuania has a population of 3 million people and is expected to be among the fastest growing economies in the eurozone. In 2014, the economy grew by about 2.7%, according to official estimates.