Sofia, 1 January: Bulgaria has officially adopted the Euro as its national currency from the first day of the new year, becoming the 21st member of the Eurozone.
With this change, Euro banknotes and coins have entered circulation in Bulgaria, while the previous currency, the Lev, will remain valid alongside the Euro during a short transition period.
From 1 January to 30 June, banks and post offices will convert Lev to Euro free of charge. After this period, currency exchange fees will apply.
The Bulgarian National Bank has now become part of the Eurosystem. In a statement, the bank said this move will promote deeper economic integration with the European Union, ensure currency stability, and facilitate trade. It also mentioned that the mandatory dual pricing of goods and services in both Euro and Lev will end on 8 August 2026.
To ease the transition, a dual pricing system has been implemented, displaying prices in both Euro and Lev. The exchange rate has been fixed at 1 Euro equal to 1.95583 Bulgarian Lev. This decision is expected to bring new energy to Bulgaria’s economy.
According to Xinhua News Agency, bank employees and experts have expressed confidence in this transition. Vladimir Ivanov, Chairman of Bulgaria’s State Commission on Commodity Exchanges and Markets, described 2025 as a year of market stability and expressed hope that 2026 will begin smoothly with reduced transaction costs following the Euro adoption.
Nikole Valkanov, Executive Director of the Association for Modern Trade, said in an interview that vendors, from large chains to small shops, have made significant efforts to ensure an easy switch to the new currency.
Since joining the EU in 2007, joining the Eurozone has been a key priority for the Bulgarian government.
On 4 June 2025, the European Commission confirmed that Bulgaria met all convergence criteria. Subsequently, on 8 July 2025, the Council of the European Union officially approved Bulgaria’s adoption of the Euro starting 1 January 2026.
The Eurozone was originally established on 1 January 1999 by 11 countries including France, Germany, and Austria.
Currently, 27 countries are part of the Eurozone, while Sweden, Poland, Czech Republic, Hungary, Romania, and Denmark have not yet adopted the Euro.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment