At the start of the new year, Bulgaria replaced the lev with the euro. The Balkan state is the 21st country in which the common currency is the official means of payment.
01/01/2026, 06:1101/01/2026, 06:11
The euro will help tourism and make it easier for Bulgarian manufacturers to trade with Europe and the world, as the Bulgarian Ministry of Finance and the national bank BNB have previously stated.
Welcome to Bulgaria in the German city of Frankfurt. Image: keystone
A lot of things are also becoming easier for tourists: currency exchange and additional fees are no longer necessary, prices can be compared more easily and card payments are becoming less complicated. The fixed exchange rate is 1.95583 lev per euro – exactly the same at which the D-Mark once converted into the euro.
But many people in Bulgaria doubt whether the euro will benefit them. There is great concern that the currency change will cause prices to rise in the Balkan country, which is one of the poorest in the EU, and that the euro will turn out to be a “more expensive” currency. And quite a few fear that Bulgaria will have to give up part of its independence.
Head of state criticizes the process of the decision to introduce the euro
In his New Year’s speech, President Rumen Radev criticized the fact that there should have been a referendum on the introduction of the euro. “But those in power didn’t want to listen to the citizens,” criticized Radev in his speech broadcast on state television. A corresponding request from Radew was rejected by the pro-Western parliamentary majority.
For its part, the European Central Bank (ECB) points out the many advantages of belonging to the eurozone. ECB President Christine Lagarde, as Europe’s top monetary authority, promises Bulgarians two things above all: prosperity and security. (sda/dpa)