Overview
- Bulgaria becomes the eurozone’s 21st member, with the euro legal tender from Jan. 1 and the lev accepted for cash payments only through January before euro-only cash starts Feb. 1.
- ATMs in Sofia dispensed euros for the first time and retailers give change in euros, with prices shown in both currencies until August 2026.
- The conversion follows the long-standing peg, using a final rate of 1 euro = 1.95583 lev, and lev-to-euro exchanges are free at banks and post offices until June 30, 2026, and indefinitely at the central bank.
- Bulgarian National Bank governor Dimitar Radev takes a seat on the ECB Governing Council, with ECB President Christine Lagarde welcoming the country to the "euro family."
- The rollout comes after the government’s resignation following anti-corruption protests, as polls show a divided public and concerns about price increases, with official data showing food prices up 5% year-on-year in November.