Nowadays it is used for representational purposes as well as during the visits of foreign state officials and rulers, including George W. Bush and Queen Elizabeth II.

The Town Hall Square (Lithuanian: Rotušės aikštė) at the end of the Pilies Street is a traditional centre of trade and events in Vilnius.

In 1503, due to the number of foreign traders the city built a special guest house for them to stay, on the site of the present day National Philharmonic.

Scottish and Jewish tradesmen in the seventeenth century were forbidden to trade in golden, silver, silk and semi-silk fringes and edgings, but this prohibition was not applied to the said articles produced in manufactures of Naples and Frankfurt.

The Town Hall Square was the place where various celebrations were announced such as meetings with important guests and foreign rulers and family festivals of local noblemen.