Next stage: February 1, 2026.

The historic moment has finally arrived

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

Although the change is now a reality, many Bulgarian citizens and businesses are still adjusting to the new reality. January was a transitional month during which payments could be made in both leva and euros. But starting February 1, 2026, the next key phase begins—the complete phase-out of payments in leva and the mandatory use of the euro in all areas of economic life.

What happened in January 2026?

Bulgaria’s first month in the eurozone was spent under a dual-currency regime. This meant that consumers could pay in cash with both leva and euros in stores, restaurants, and at all merchants. This greatly facilitated the transition and allowed people to gradually get used to the new currency.

An important feature of the transition period was the rule regarding change. Regardless of whether you paid in leva or euros, change had to be given in euros—except in cases where the merchant did not have euro coins or banknotes on hand. This measure was intended to accelerate the introduction of the euro into circulation and reduce the need to exchange leva.

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

Mandatory Use of the Euro Starting February 1, 2026

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

• All retailers and stores
• Restaurants, cafes, and food service establishments
• Service providers (household, medical, educational)
• Transportation services (taxis, public transportation, fuel)
• Utility services and rent
• Government fees and administrative services

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

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

Important Practical Advice for Citizens

If you still have levs in cash, it is recommended that you 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—lines are likely to get longer as June 30 approaches.

Carefully check to make sure all your automatic payments have been correctly updated to euros. Although banks have performed the automatic conversion, it’s a good idea to confirm the amounts for:

• Monthly loan and mortgage payments
• Insurance and subscriptions
• Utility bills
• Rent and other recurring payments

For individuals with foreign currency accounts in euros that they held prior to joining the eurozone, the change is minimal. These accounts simply become standard accounts in the new national currency.

Dual Pricing

To assist consumers, merchants are required to display prices in both euros and levs (at the fixed exchange rate) until August 8, 2026. This dual pricing helps people compare prices and more easily understand the cost of goods and services in the new currency.

After August 8, the dual-pricing requirement will be lifted, and prices will be displayed solely in euros. By that time, most consumers will have already adapted and will be thinking directly in euros, without having to convert amounts mentally.

The Benefits for Bulgaria as a Member of the Eurozone

Joining the eurozone brings a number of concrete benefits for the Bulgarian economy and its citizens:

Full membership in the ECB: Bulgaria now has a voice and voting rights on the Governing Council of the European Central Bank. This means participation in decision-making regarding monetary policy, interest rates, and financial stability in the eurozone.

End of the currency board: The currency board mechanism, which Bulgaria had been using since 1997, is now a thing of the past. Our country has transitioned to full monetary integration with the eurozone under the guidance of the ECB.

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

Lower interest rates: Access to financing for businesses and citizens is improving thanks to the lower interest rates typical of the euro area.

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

Remember the key dates

To avoid any inconvenience, please note these important dates:

• February 1, 2026: Mandatory payments in euros only
• June 30, 2026: Deadline for free exchange of leva at banks and post offices
• August 8, 2026: End of mandatory dual pricing

The fixed exchange rate remains in effect forever

It is important to note that the fixed exchange rate of 1 euro = 1.95583 leva remains valid indefinitely for all historical and reference purposes. This rate will be used indefinitely for the exchange of old leva at the Bulgarian National Bank (BNB), as well as for any legal, accounting, or administrative purposes requiring conversion between the two currencies for past periods.

Conclusion

Bulgaria’s entry into the eurozone is a fait accompli, and the most intensive phase of the practical transition begins on February 1, 2026. All payments must now be made in euros, which requires active steps on the part of citizens—exchanging their cash leva and adapting their daily financial habits.

Despite the challenges inherent in any major change, the benefits of eurozone membership are significant and long-term. Bulgaria is now a full-fledged member of the world’s largest currency area, with all the rights and opportunities that this entails.

Embrace the change with confidence, and don’t forget to exchange your remaining leva in time!