Bulgaria’s lev – euro dual circulation period ends with 75% of leva cash withdrawn
The temporary dual circulation period in which both leva and euro are legal tender in Bulgaria is ending on January 31, with 75 per cent of leva banknotes and coins out of circulation, according to a report by central Bulgarian National Bank (BNB).
The central bank said that as of January 30, more than 6.1 billion euro had been put into circulation.
From February 1, the euro is the sole legal tender in Bulgaria.
BNB cash desks, local offices of the Cash Services Company and some commercial bank branches were working overtime on January 31 to exchange leva for euro.
The Consumer Protection Commission (CPC) has issued a reminder that as of February 1, payment for goods, services and debts may be only in euro, and businesses must accept payments and return change only in euro.
Bulgaria’s Euro Adoption Act requires the dual display of prices in euro and leva must continue until August 8 2026.
The CPC said that businesses that do not comply with the rules about double price display, correct currency conversion and other requirements are subject to sanctions by the commission and other regulatory bodies.
Although the dual circulation period is ending, BNB will for an indefinite period exchange leva banknotes and coins for euro, free of charge, at the official fixed exchange rate.
Until June 30 2026, commercial banks will exchange leva banknotes and coins for euro at the official exchange rate, free of charge, with no limit on the quantity. However, for amounts of more than 30 000 leva, three days advance notice is required. After that date, commercial banks will be entitled to charge for the service, if they choose to do so.
The Association of Banks in Bulgaria has a detailed Q and A in English about the changeover to the euro.
