Final Days of Dual Payments: Bulgaria Switches Fully to the Euro from 1 February

Only a few days remain in which people in Bulgaria can pay using both the lev and the euro. From 1 February, the euro will become the sole legal currency in circulation. The Coordination Centre under the Single Currency Mechanism says there is a sufficient supply of euro banknotes on the market, while the withdrawal of levs is progressing at a rapid pace.

At the same time, institutions have reminded retailers who refuse to accept the €200 banknote that it is legal tender. A few days ago, we showed how a shop in a major retail chain in Sofia declined to accept a €200 note for a bill of €50, while at a market in the city of Ruse traders were willing to take it, but only after checking that it was genuine.

Dobrin Stoyanov, customer (23 January 2026):
“They said they would not accept that kind of money. There was a small argument.”

“I have two marker pens that I use if I have any doubts about a euro banknote. Here you are, your notes are fine, they are not fake. You can buy whatever you like anywhere.”

Institutions are categorical: retailers should not refuse high-denomination banknotes, but customers are also expected to act reasonably.

Stefan Tsvetkov, Chief Cashier at the Bulgarian National Bank (BNB):
“€200, just like €500, is legal tender and permanently retains its value. In principle, all retailers must accept it.”

Georgi Chanev, Director of the Issue Department at the BNB:
“There is a recommendation which confirms this rule, but it also allows for certain exceptions. It introduces what is known as the principle of good faith. That means that if we try to pay for a coffee with a €200 note, this is clearly disproportionate.”

Vladimir Ivanov, Chairman of the Coordination Centre:
“If a retailer persistently refuses to accept the legal tender of €200, in the end we can simply choose not to make our purchase in that particular shop.”

Nikolay Valkanoв, Association for Modern Trade:
“There may be cases where it is not possible to give change, or where the purchase is of very low value. These are situations in which a cashier might potentially refuse such a payment.”

A decline in complaints has also been reported. While the Consumer Protection Commission received around 3,000 complaints in the first week of January, the figure has now fallen to just 900. Since the beginning of the year, the National Revenue Agency has issued penalty notices totalling almost €185,000. Wholesale and retail prices, meanwhile, are said to be following normal market principles.

Vladimir Ivanov, Chairman of the Coordination Centre:
“We should be rational in our choices and not listen to information that is superficial, outside normal economic thinking and very often simply untrue. At the moment, the market in Bulgaria is in very good shape.”

Nearly 68% of all lev banknotes already withdrawn from circulation

From the beginning of the year until 22 January, 71 cases of counterfeit euros were detected, including some theatrical prop notes. Between 16 and 22 January alone, 23 new cases were registered, and 11 pre-trial investigations were launched. The authorities say these figures are comparable to those of last year.

There is enough euro currency in circulation, while the withdrawal of Bulgarian levs is moving even faster. According to the latest data from the BNB, more than 67% of all lev banknotes have already been taken out of circulation.

Iliya Lingorski, member of the BNB Governing Council:
“This week, for the first time, the total value and volume of the Bulgarian lev in circulation are lower than those of the euro. We started the week with just over 10 billion levs, while euros are already above €5.3 billion. This changes every day. In other words, we are not only on schedule, but moving at a much faster pace. By mid-year, we expect more than 90% of the lev in circulation to be fully withdrawn and demonetised.”

Any remaining levs can still be exchanged without fees at commercial banks until June, and free of charge and without time limit at the Bulgarian National Bank.