Bulgaria and the euro: More Than a Third of Levs in Circulation Withdrawn by the Central Bank

Some 36.3% of Bulgarian levs in circulation have already been withdrawn by the Bulgarian National Bank (BNB), according to Vladimir Ivanov, head of the newly established Coordination Centre for the Euro. He announced the figure at a meeting held at the Council of Ministers today, January 6.

The bulk of the remaining cash in circulation is expected to be withdrawn by the end of March 2026 at the latest. The BNB has confirmed that the necessary banknotes and coins have been secured. Members of the public are being urged to exchange their levs at commercial banks, Bulgarian Post offices and the BNB.

"Vouchers issued in levs with a validity date after 1 January 2026 will be converted into euros at the official exchange rate at the time the voucher is presented by the user.," he said.

Officials reported that the process of adopting the euro in Bulgaria is proceeding smoothly, during the first briefing of the Coordination Centre under the mechanism overseeing the introduction of the single currency.

The Ministry of the Interior is running information campaigns nationwide and has allocated resources to respond if necessary. Police presence has been ensured in areas around post offices where lev-to-euro exchanges will take place, and mobile response teams have been set up to address reports of physical abuse or fraud related to the euro’s introduction.

Authorities have identified a technical issue affecting certain devices in some taxis. Corrections will be carried out free of charge at authorised service centres.

The National Revenue Agency (NRA) and the Commission for Consumer Protection (CCP) are carrying out large-scale inspections linked to the euro’s introduction. Between 1 and 5 January, the CCP conducted around 4,000 inspections, opening 275 administrative penalty proceedings and issuing 80 penalty rulings, while 100 settlements were concluded. Detected violations accounted for around 7% of all inspections.

Over the same period, the NRA carried out more than 800 checks on price formation, opening 70 administrative proceedings and issuing 27 penalty rulings totalling 135,000 leva.

Between 1 and 5 January, some 400 complaints were submitted and are currently being processed. From 5 to 9 January, more than 300 inspections per day are planned in sectors including food retail, hairdressing and beauty services, paid parking, fitness centres, translation and language services. Inspections at winter resorts are set to begin on 8 January.