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9h ago

Bulgaria Adopts the Euro, Becoming the 21st Member of the Eurozone

The move launches a month of dual circulation with safeguards to limit unjustified price increases.

A projection on the facade of the Bulgarian Central Bank shows Euro banknotes during New Year's celebrations in Sofia, Bulgaria, January 1, 2026, which also marks the country’s accession to the Eurozone. REUTERS/Stoyan Nenov TPX IMAGES OF THE DAY
Una persona posa con billetes de euro retirados de un cajero automático en Sofía, el jueves 1 de enero de 2026, coincidiendo con la adhesión del país a la unión monetaria del euro
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Overview

  • A fixed conversion rate of 1.95583 leva per euro is in force as ATMs in Sofia begin dispensing euro banknotes.
  • Cash payments are accepted in both currencies through 31 January, with the euro becoming the sole legal tender on 1 February.
  • Dual pricing continues until 8 August 2026, and prices will be shown only in euros starting 9 August.
  • The Bulgarian National Bank will exchange leva for euros indefinitely free of charge, while banks and some post offices offer free exchanges until 30 June 2026 and may charge fees thereafter, with the service allowed to end after 31 December 2026.
  • The changeover comes during a political crisis after Prime Minister Rosen Zhelyazkov’s resignation, with polling showing broad skepticism and the ECB citing past euro entries’ temporary inflation effects of about 0.2–0.4 percentage points.