Bulgaria on the eve of the euro: EC sends congratulations
On the eve of Bulgaria’s January 1 2026 adoption of the euro as its currency, European Commission (EC) President Ursula von der Leyen sent congratulations, describing the change as good for Bulgaria and strengthening Europe as a whole.
“Bulgaria joins the euro area, one of the European Union’s greatest achievements,” Von der Leyen said in a statement on December 31.
“This milestone reflects years of hard work and commitment, overcoming challenges,” she said.
Von der Leyen said that the euro will bring benefits for the Bulgarian people making payments and travel easier.
“It will bring new opportunities for Bulgarian businesses, allowing them to seize better the advantages of our common single market. It will further strengthen Bulgaria’s voice in Europe.
“This step is good for Bulgaria, and it strengthens Europe as a whole. It makes our economy more resilient and competitive globally. Congratulations, Bulgaria! You can be proud of what you achieved,” she said.
With Bulgaria’s accession, 21 EU member states and more than 357 million EU citizens will share the EU’s common currency, the EC said.
“Public support for the euro in the EU and euro area remains very strong, with broad majorities of EU citizens believing the euro is a good thing for the EU as a whole, and for their own country, as shown by the latest Eurobarometer.”
From January 1 2026, the euro will gradually replace the lev as Bulgaria’s currency.
In line with a consistent record of exchange-rate stability, the lev will be exchanged at a conversion rate of 1.95583 lev per 1 euro.
The two currencies will be used alongside each other for a period of one month. When payments are made in lev, change will be given in euro. This will allow for a progressive withdrawal of the lev from circulation.
The dual display of prices in lev and euro became compulsory on August 8 2025 and will apply until August 8 2026.
The EC said that in order to protect consumers and address their concerns about unjustified price increases during the changeover period, Bulgaria relies on the strict application of consumer protection law and information campaigns.
The prices of 101 frequently purchased products have been monitored daily and published on a dedicated website during the changeover by the Consumer Protection Commission, to provide information to the public and an incentive to businesses not to unjustifiably increase prices during the changeover.
Commercial banks have received euro banknotes and coins in advance from the Bulgarian National Bank (BNB) and have in turn supplied euro cash to shops and other businesses.
Lev banknotes and coins can be exchanged at the BNB, commercial banks, and any post office in rural areas where there is no commercial bank.
Exchanges at the BNB are free of charge and unlimited in time. Exchanges at banks and the post offices are free of charge for the first six months. Banks and post offices may charge for the exchange as of July 1 2026.
As of January 1, 96 per ent of automatic teller machines (ATMs) in Bulgaria will be distributing euro banknotes, and the remainder will follow as soon as possible (within two weeks), the EC said.
In its 2025 Convergence Report, the EC concluded that Bulgaria met the criteria for adopting the euro. This assessment was supported by the European Central Bank’s own Convergence Report. In July 2025, EU Finance Ministers took the formal decision that opened the way for Bulgaria’s adoption of the euro.
In a separate statement, the ECB said that to celebrate Bulgaria’s accession to the euro area, the ECB’s main building is being illuminated every night from 6.30pm Eastern European Time until January 11.
(Main photo: EC Audiovisual Service)
