Bulgaria is the latest European country to adopt the Euro as its currency. In July 2025, EU Finance Ministers formally approved Bulgaria to adopt the Euro.
The Euro became official on January 1, 1999, as an “invisible” currency in 11 countries, with physical euro notes and coins entering circulation three years later, on January 1, 2002. Today, the Euro is the legal tender of 21 EU member states, representing over 357 million EU citizens.
From January 1, 2026, the Euro will gradually replace the lev as Bulgaria’s currency. The lev will be exchanged at a conversion rate of 1.95583 lev per €1. Exchanges at banks and post offices are free for the first six months. Banks and post offices may charge for the exchange beginning in July.
The two currencies will be used concurrently for 1 month. When payments are made in lev, change will be given in Euros.
Prices in lev alongside the Euro became compulsory on August 8, 2025, and will apply until August 8, 2026.
Along with eliminating the lev, Bulgaria will thus transfer monetary policy to the European Central Bank.
The concept of a single currency is foundational for the creation of the European Union, which was pursued to create a single market while removing national economic barriers. Bulgaria will also be included in the ECB’s central bank digital currency initiative, which is expected to be made available in the coming years.