Bulgaria Adopts the Euro: The Lev’s Final Chapter

Bulgaria has just reached a historic milestone: as of 1 January 2026, the euro officially became the country’s currency, replacing the Bulgarian lev (BGN) after more than 145 years of national monetary history. This completes a long process that began with the country’s EU membership in 2007.

A Journey Through Time: History of the Bulgarian Lev

The Bulgarian lev has been at the heart of daily life in Bulgaria since 1880, just two years after the country regained independence from the Ottoman Empire. Its name literally means “lion” – a proud symbol of strength and freedom.

Before the Lev: Money at the End of the Ottoman Period

Before Bulgaria regained its autonomy in 1878, the land was part of the Ottoman Empire, and everyday payments were made using Ottoman coins, mainly the kuruş and para, alongside a colorful mix of foreign coins such as Austrian thalers, Russian rubles, and even Venetian ducats. Trade was practical rather than standardized, and different regions often used different currencies at the same time.

After liberation, one of the young Bulgarian state’s first priorities was to establish economic independence – and that meant creating a national currency.

1880: Birth of the Bulgarian Lev

• 1880: Bulgaria introduced the lev, named after the Bulgarian word for lion – a centuries-old national symbol of strength and sovereignty.
• The new currency followed the Latin Monetary Union model and was initially pegged to the French franc, helping Bulgaria integrate into European trade and finance.
• This period was marked by optimism and rapid modernization, as Bulgaria built institutions, railways, and cities – all financed and paid for in lev.

The first Bulgarian lev banknote ever issued | Photo Source: crownchange.com

The Lev During the Two Balkan and Two World Wars

• Balkan Wars & World War I (1912–1918): Military spending and instability weakened the lev, leading to inflation and loss of purchasing power.
• Interwar period: Bulgaria struggled economically under the weight of war reparations and political turbulence. The lev went through multiple reforms, and gold backing was gradually abandoned.
• World War II: During the war, Bulgaria’s economy was closely linked to Nazi Germany, and the lev was effectively tied to the German Reichsmark. Trade and prices were tightly controlled, and shortages became common toward the end of the war.

Photo Source: crownchange.com

The Bulgarian Currency During the Communist Era (1944–1989)

• After 1944, Bulgaria entered the Soviet sphere of influence and became a people’s republic.
• The lev was not formally pegged to the Soviet ruble, but Bulgaria’s entire economy was centrally planned and aligned with the Council for Mutual Economic Assistance (COMECON), the Eastern Bloc’s economic system.
• Redenominations took place in 1952 and 1962, removing zeros from the currency to simplify accounting and reflect price controls.
• Money during this era had limited meaning in terms of market value – prices were fixed, foreign currencies were tightly restricted, and the lev was not freely convertible.

  You can learn more about Bulgaria’s complex communist past on our Sofia Communist Tour 

Photo Source: numizmatibg.com

1989–1997: Transition and Turmoil

After the fall of communism in 1989, Bulgaria transitioned to a market economy – a process marked by instability, weak institutions, and political uncertainty. The most dramatic moment came in 1996–1997, when Bulgaria experienced severe hyperinflation:

• Prices changed daily, sometimes hourly
• Savings were wiped out
• People rushed to spend money before it lost value
• Trust in the lev collapsed, making currency reform unavoidable.

Photo Source: numizmatibg.com

1997–1999: Stability Through the German Mark

• In 1997, Bulgaria introduced a currency board, one of the strictest monetary systems in the world.
• The lev was pegged to the German Deutsche Mark, restoring confidence almost overnight.
• In 1999, a major redenomination created the “new lev” – 1 new lev = 1,000 old leva.
• When Germany adopted the euro, Bulgaria seamlessly switched the peg to the euro at the fixed rate of 1 EUR = 1.95583 BGN, a rate that remained unchanged all the way until euro adoption.

A Currency That Told Bulgaria’s Story

For nearly a century and a half, the Bulgarian lev reflected the country’s history – independence, wars, ideology, crisis, recovery, and finally European integration. Its banknotes featured writers, revolutionaries, monks, architects, and symbols of Bulgarian culture, turning everyday money into a small traveling history lesson.

As Bulgaria says goodbye to the lev, it’s not just retiring a currency – it’s closing a remarkable chapter of its national story.

Photo Source: bntnews.bg

The Final Chapter for the Lev – and What Happens Next

Bulgaria became the 21st member of the eurozone on 1 January 2026. Here’s what the transition means in practical terms:

Dual-Currency Period

• From 1 January to 31 January 2026, both lev and euro are accepted in shops and businesses.
• If you pay with lev in January, merchants would give your change entirely in euro to help the lev gradually leave circulation.

When the Lev Stops Being Legal Tender

• 1 February 2026: The euro becomes the sole legal currency in everyday transactions.

Exchanging Your Bulgarian Lev – What You Should Know

If you’re visiting Bulgaria now or coming soon:

• Free exchange: You can swap lev banknotes and coins for euros at commercial banks and many post offices free of charge until 30 June 2026. After that, banks may charge a small fee, but many will continue exchange services at least until 31 December 2026.
• Indefinite exchange at the central bank: The Bulgarian National Bank will exchange lev at the fixed rate for free and without time limits, so even years from now, you won’t lose the value of your old bills and coins.
• Automated conversions: Lev accounts in Bulgarian banks have been automatically converted into euro accounts – you don’t need to open a new one or do anything manually.

The Bulgarian euro coins, displayed on Sofia’s famous yellow cobblestones

Photo Source: Sketches of Sofia

What This Means for Tourists – Especially in Sofia

For travelers, euro adoption makes Bulgaria easier and more convenient to visit:

• No more currency exchange stress: Your euros will work across Bulgaria and across most of Europe without extra conversions or unfamiliar exchange rates.
• ATMs now dispense euros – so withdrawing money in Sofia and beyond will feel familiar if you’re used to eurozone travel.
• Prices in euros: Since August 2025, prices have been shown in both lev and euros, so visitors can already get used to the feel of the new currency before you even arrive. Prices will be shown in both currencies until 8th of August 2026.

And for Sofia, Bulgaria’s vibrant capital, welcoming travellers in euros means smoother budgeting for your hotel, restaurant, taxi or tram rides, and souvenirs. Whether you’re sipping espresso on the Vitosha Boulevard, visiting the best museums in town, or exploring the historic city center, your euros will be as easy to use here as they are in Barcelona or Berlin.

When in Sofia, don’t forget to explore the city’s main landmarks with our daily free walking tours.

Photo Source: Sketches of Sofia

The Meaning Behind the Design of the Bulgarian Euro Coins

Like every other Eurozone country, Bulgaria’s euro coins feature unique national designs that reflect the country’s history and culture.

Cent coins (1, 2, 5, 10, 20 and 50 cent)

These coins feature the Madara Horseman, a dramatic rock relief carved in the 8th century and now a UNESCO World Heritage Site. It is one of Bulgaria’s oldest state symbols and represents power, victory and the beginnings of Bulgarian statehood. In Bulgarian, cents are commonly called “стотинки” (stotinki) – a word meaning “hundredths”, carried over from the old lev system where 100 stotinki made one lev. Even with the euro, locals may still refer to cents this way.

€1 coin

The €1 coin shows St. John of Rila (Sveti Ivan Rilski), the first Bulgarian hermit, and Bulgaria’s most beloved medieval saint and spiritual patron. Founder of the Rila Monastery, he symbolizes humility, faith and moral strength – values deeply rooted in Bulgarian culture.

€2 coin

The €2 coin features Paisius of Hilendar (Paisii Hilendarski), an 18th-century monk and historian whose writings helped awaken Bulgarian national consciousness during Ottoman rule. He is often called the voice of the Bulgarian National Revival. He is best known for “Istoriya Slavyanobalgarska”, one of the first history books about Bulgaria, which encouraged Bulgarians to take pride in their language, culture, and heritage.

Engraved along the edge of the €2 coin is the inscription “Боже, пази България” (“God Protect Bulgaria”), a phrase with deep historical roots. It first appeared on Bulgarian coins in the early 20th century, during the period of the Bulgarian Tsardom. Removed during the communist era, when religious symbols were discouraged, the inscription now returns after decades of absence.

All Bulgarian euro coins also include inscriptions in Cyrillic, introducing a third alphabet to appear on euro coins after Latin and Greek. As the birthplace of the Cyrillic script, Bulgaria proudly celebrates this unique part of its heritage, showing how national identity and European unity can go hand in hand.

Source: evroto.bg

Bulgaria’s European Story Continues

Adopting the euro is more than a technical change. It’s a symbolic step that reflects Bulgaria’s deepening connection with Europe and the wider world. It removes barriers for trade, travel, and investment and simplifies life for visitors who already use the euro in much of their journey.

Of course, for many Bulgarians, this change comes with mixed feelings about national identity and the future. But for you as a visitor, it means one less currency to worry about and one more reason to explore this beautiful, historic country with confidence and ease.