Next stage: 1 February 2026

The historic moment has already arrived

After years of preparation and anticipation, Bulgaria officially entered the eurozone on 1 January 2026. This landmark moment marked the beginning of a new economic era for our country, in which the euro became the only official currency, replacing the Bulgarian lev after more than 25 years of stability under the currency board.

Although the change is a fact, many Bulgarian citizens and businesses are still adapting to the new reality. January was a transitional month during which payments could be made in both levs and euros. But from 1 February 2026 the next key phase begins - the complete end of payments in levs and the mandatory use of the euro in all spheres of economic life.

What happened in January 2026?

The first month of the euro area for Bulgaria went into dual currency mode. This meant that consumers could pay in cash with both levs and euros in shops, restaurants and all retailers. This eased the transition considerably and allowed people to gradually get used to the new currency.

An important feature of the transition period was the change rule. Regardless of whether you paid in levs or euros, change had to be returned in euros - unless the trader did not have euro coins or notes available. This measure was intended to speed up the introduction of the euro into circulation and reduce the need to exchange levs.

Bank accounts underwent automatic revaluation as early as 1 January. All accounts in levs were converted into euros at the fixed rate of 1 euro = 1.95583 levs, without customers having to take any action. The process was completely free of charge and the IBAN numbers of the accounts remained unchanged, ensuring the continuity of all automatic payments, transfers and direct debits.

Mandatory euro from 1 February 2026

Today, 1 February 2026, the most important phase of the transition begins. From this date, all payments in Bulgaria must be made exclusively in euros. This rule applies to:

• All retailers and shops
• Restaurants, cafes and eateries
• Service providers (domestic, medical, educational)
• Transport services (taxis, public transport, fuel)
• Utilities and rents
• Government fees and administrative services

Businesses can no longer legally accept payments in BGN. This applies to both cash and non-cash transactions. Violators of this rule are subject to administrative sanctions.

For citizens who still have levs in cash, there is ample time and convenient exchange options. The free exchange of levs for euros continues at banks and post offices until 30 June 2026. After that date, financial institutions may introduce charges for the service, but the Bulgarian National Bank (BNB) will exchange levs free of charge and indefinitely at all its cash desks.

Important practical tips for citizens

If you still have levs in cash, it is advisable to exchange them as soon as possible at a bank or post office, where the process is completely free. Don't wait until the last minute - queues are likely to increase as 30 June approaches.

Check carefully that all your automatic payments are updated correctly in euros. Although the banks have carried out the automatic conversion, it is a good idea to confirm the amounts at:

• Monthly loan and mortgage repayments
• Insurance and subscriptions
• Utility payments
• Rent and other periodic payments

For individuals with currency accounts in euros that they had before joining the euro area, the change is minimal. These accounts simply become standard accounts in the new national currency.

Dual price marking

To make it easier for consumers, retailers are obliged to display prices in both euros and levs (at the fixed exchange rate) until 8 August 2026. This dual display helps people to compare prices and understand more easily the value of goods and services in the new currency.

After 8 August, the double labelling obligation will be abolished and prices will be displayed only in euros. By then, most consumers will have adapted and will think directly in euros without making mental conversions.

Advantages for Bulgaria as a euro area member

Joining the euro area brings a number of concrete benefits for the Bulgarian economy and citizens:

Full membership of the ECB: Bulgaria now has a voice and a vote on the Governing Council of the European Central Bank. This means participation in decisions on monetary policy, interest rates and financial stability in the euro area.

End of the currency board: The currency board mechanism that Bulgaria has used since 1997 is now history. Our country has moved towards full monetary integration with the euro area under the leadership of the ECB.

Reduced transaction costs: Businesses and citizens no longer pay currency conversion fees when trading and making payments in the euro area. This is particularly important for exporters, importers and people who travel frequently in Europe.

Lower interest rates: Access to finance for businesses and individuals is improving thanks to lower interest rates specific to the euro area.

Currency stability: The euro is a stable currency with a long history of maintaining purchasing power. Inflationary pressures are controlled by the ECB with professional mechanisms.

Remember the key dates

To avoid inconvenience, remember these important dates:

• 1 February 2026: Mandatory payments in euros only
• 30 June 2026: Deadline for free exchange of levs at banks and post offices
• 8 August 2026: End of compulsory dual price labelling

Fixed exchange rate stays forever

It is important to know that the fixed exchange rate of 1 euro = 1,95583 leva remains valid forever for all historical and reference purposes. This rate will be used for the exchange of old levs at the BNB in perpetuity, as well as for any legal, accounting or administrative needs that require conversion between the two currencies for past periods.

Conclusion

Bulgaria's entry into the euro area is a fait accompli, and the most intensive phase of the practical transition begins on 1 February 2026. All payments must now be made in euros, which requires active action on the part of citizens - exchanging available levs and adapting daily financial habits.

Despite the challenges of any major change, the benefits of euro area membership are significant and long-term. Bulgaria is now a full participant in the world's largest currency area, with all the rights and opportunities that brings.

Accept the change with confidence and remember to exchange your remaining levs on time!