Overview
- Cash machines began dispensing euros at midnight, with lev and euro both usable for cash payments through January and the euro becoming sole legal tender on February 1.
- Prices remain displayed in both currencies until August 2026, the fixed conversion rate is 1 euro = 1.95583 leva, and fee-free exchanges are available at banks and post offices until mid-2026.
- ECB President Christine Lagarde welcomed Bulgaria as the 21st member as central bank governor Dimitar Radev gains a vote on the ECB Governing Council.
- Public skepticism persists over potential price increases, with official data showing food prices up 5% year-on-year in November and analysts noting disinformation and protests by nationalist, pro-Russian groups.
- Operational frictions accompanied day one, including queues and reports of starter-pack shortages and bank warnings about possible ATM or card disruptions, while economists expect limited immediate macro effects given the lev’s long peg to the euro.