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Bulgaria on the doorstep of the euro area

Bulgaria will have a view, a voice, a vote.

Christine Lagarde, President of the ECB

Bulgaria will join the euro area on 1 January 2026. This is a historic milestone for the country and a significant opportunity for people and businesses across the euro area. The transition will lead to greater economic stability, smoother transactions and stronger integration across Europe. For Bulgaria, adopting the euro will help build a stronger foundation for long-term growth and resilience.

Change can bring questions and concerns. However, the ECB and national authorities are working closely together to ensure the transition is smooth for everyone, with careful planning and a strong focus on price stability.

Why is this transition important for Bulgaria and euro area countries?

A resilient economy

The euro is a stable and trusted currency that protects savings and purchasing power.

Stronger European integration

Bulgaria will have a seat at the table in euro area decisions, gaining a voice in shaping the future of our shared currency. In times of geopolitical uncertainty, the expansion of the euro area sends a message of unity and solidarity.

Shared growth

Being part of the euro area means more opportunities for growth, trade and investment. Every time a country joins the euro area, it strengthens financial stability and shows that European integration is still moving forward.

Conversion rate

BGN 1.95583 = EUR 1

What does the euro mean for Bulgarian banks and business?

During a currency changeover, some prices may rise if retailers take unfair advantage of the transition. However, Bulgaria will have the effective measures and safeguards to prevent this. In the months before and after the changeover, all prices will be shown in both lev and euro so consumers can easily check that conversions are fair. National authorities will strictly monitor and enforce the correct use of the conversion rate to protect people in Bulgaria from unjustified price increases.

Enhanced stability

Bulgarian banks will have access to liquidity from the ECB, enabling them to provide loans, process payments and cover cash withdrawals more efficiently. This will make the banking system more stable and offer people greater confidence in the safety of their savings.

Smooth trade

Eliminating currency exchange costs when doing business with euro partners will remove barriers and make cross-border activities smoother and more competitive.

Interest rates

From January, interest rates in Bulgaria will directly follow the ECB Governing Council’s decisions, which take into account the economic conditions of the euro area as a whole. The Governor of Българска народна банка (Bulgarian National Bank) will participate as a full member of the Governing Council.

Exchanging Bulgarian lev for euro

At commercial banks and post offices

You can exchange Bulgarian lev banknotes and coins for euro free of charge at commercial banks and certain post offices in Bulgaria until 30 June 2026. After this date, commercial banks and post offices will continue to offer this service at least until 31 December 2026, but they may charge a fee.

For single transactions over BGN 30,000, you must notify the commercial bank at least three business days in advance. At post offices, the daily exchange limit is BGN 10,000 per individual. However, for single transactions over BGN 1,000, you must inform the post office three to five business days in advance.

At the Bulgarian National Bank

You can exchange Bulgarian lev banknotes and coins for euro at the Bulgarian National Bank indefinitely and free of charge. This service is available at the head office in Sofia as well as at territorial offices of the Cash Service Company AD in Sofia, Plovdiv, Burgas, Varna and Pleven. For more information, visit the Bulgarian National Bank’s website and its FAQ on the accession to the euro area (available in Bulgarian only).

At other euro area national central banks

From 1 January to 2 March 2026, other euro area national central banks (NCBs) will exchange Bulgarian lev banknotes free of charge, at the fixed conversion exchange rate. The exchange limit is BGN 2,000 for any given party/transaction on any one day.

List of euro area NCBs Banknotes qualifying for exchange

Further details are specified in Guideline ECB/2006/10 of 24 July 2006 on the exchange of banknotes after the irrevocable fixing of exchange rates in connection with the introduction of the euro.

Key changeover milestones for Bulgaria at a glance
8 July 2025

EU Council approves Bulgaria’s accession to the euro area.

8 August 2025

Prices are displayed in both lev and euro for a period of one year.

1 November 2025

Start of frontloading and sub-frontloading of euro cash to commercial banks.

1 December 2025

Sub-frontloading of euro coin starter kits for businesses and the public.

1 January 2026

The euro is introduced and euro banknotes and coins start circulating. For one month, both lev and euro cash can be used for payments.

Lev bank accounts are automatically converted into euro.

Lev banknotes and coins can be exchanged free of charge for euro at commercial banks, certain post offices and the Bulgarian National Bank.

1 February 2026

Euro banknotes and coins become the sole legal tender.

30 June 2026

Commercial banks and post offices may begin to charge fees for the exchange of lev banknotes and coins.

1 January 2027

Commercial banks and post offices are no longer obliged to exchange lev banknotes and coins.

No deadline

Lev banknotes and coins can be exchanged indefinitely, without limits and free of charge at Bulgarian National Bank.

Getting in touch

If you have any questions regarding the exchange of Bulgarian lev banknotes and coins, please get in touch with the Bulgarian National Bank either by phone or in person at 1, Knyaz Alexander І Sq., 1000 Sofia, or at the cash centre at 10, Mihail Tenev Str., Poligona, 1784 Sofia. Opening hours: Monday to Friday, 08.30-15.45 EET.

Read more

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