Over 58% of Lev Banknotes Withdrawn from Circulation, Says Euro Coordination Centre

More than 58% of Bulgarian lev banknotes in circulation have already been withdrawn, with the trend continuing to progress. This was announced by Vladimir Ivanov, Chair of the Euro Coordination Centre, during a briefing at the Council of Ministers on January 20.

photo by BTA

“Problems from the first ten-day period are beginning to disappear. We are urging citizens and traders to obtain the necessary quantities of euro banknotes and euro coins. All lev banknotes and coins can be exchanged free of charge and without limits until the end of June at commercial banks, and without any time limit at the Bulgarian National Bank. There is no need for panic on this issue,” Ivanov said.

Regarding the activities of Bulgarian Posts, between 12 and 16 January, a total of 20,900 transactions were carried out, with an overall value of nearly 34 million leva.

The Commission for Consumer Protection (CCP) conducted 164 inspections between 12 and 18 January. As a result, 34 penalty proceedings were initiated and five penalty decrees were issued.

The National Revenue Agency (NRA) reported that between 5 and 18 January it carried out 2,774 inspections. These covered 626 grocery shops, 561 hairdressing and beauty salons, five hotels, 159 car parks and 226 fitness centres. A total of 25 violations of the Law on the Introduction of the Euro were identified. In addition, 107 administrative penalty proceedings were opened and 26 penalty decrees were issued.

There have been no reports of irregularities in the conversion from levs to euros in banks.