Bulgaria was positioning itself within a range comparable to other euro area countries that had implemented an organised and effective process of replacing their national currency, a Fiscal Council analysis entitled “The Euro in Bulgaria: A Smooth and Successful Transition” showed, the Council said here on 21 January.
The experts referred to data from the first weeks of January regarding the transition to the euro in Bulgaria, noting that the process of exchanging banknotes and coins was proceeding according to plan. As of January 16, 2026, around 60% of levs in circulation had been withdrawn. The Council also reported that the period of dual circulation of the lev and the euro had begun without significant difficulties, recalling that citizens and businesses could make payments in both currencies and that retailers were obliged to accept levs without restrictions until January 31, 2026. According to other data cited in the analysis, more than 96% of ATMs were dispensing euro banknotes as early as January 1, 2026, with the remaining machines being adjusted within one to two weeks. Prices had to be displayed in both currencies until August 31, 2026, and the responsible authorities were carrying out enhanced monitoring. The share of complaints filed over violations was below 0.5% of the total number of retail outlets, the Council noted, adding that penalties for established violations reached up to EUR 100,000. It also recalled that the fixed exchange rate remained unchanged: EUR 1 = BGN 1.95583.
The available facts and indicators confirmed that the transition to the euro from January 1, 2026, was proceeding calmly and in an organised manner. The overall picture pointed to a high degree of institutional preparedness and effective management of the process, the Fiscal Council’s analysis concluded.
Noting that the adoption of the euro in Bulgaria was a key milestone completing the country’s process of full European integration, the Fiscal Council added that the transition was taking place under favourable initial conditions. Among these was the fact that Bulgaria was entering the euro area from the position of a long-standing currency board with a fixed exchange rate, which meant that in practice there was no significant change in the monetary policy regime or currency risk, unlike in countries with a floating exchange rate, the analysis said. Another favourable condition was that Bulgaria was adopting the euro at one of the lowest levels of government debt in the EU, placing the country in a more fiscally stable position compared with a number of states that had recently joined the euro area. In addition, the transition followed prolonged and coordinated preparation by the Bulgarian National Bank, commercial banks, retail chains and key institutions to ensure a smooth technical and organisational changeover.