Bulgaria Adopts the Euro in 2026: Rules, Timeline, Impact

January 1, 2026, marked a substantial change for Bulgaria and its citizens and businesses, as it was the official introduction of the euro (EUR) as the national currency. The transition period from lev (BGN), Bulgaria's sole currency from 1880 to 2025, to the EUR was a long one and came with many challenges, including a postponement of the introduction in 2025. However, this is not the end of the transition period, which will be completed on December 31, 2026.

Final Phases of EUR Introduction 

Since January 1, 2026, Bulgaria has been replacing the BGN with the EUR, using a fixed conversion rate of 1.95583 BGN per EUR. Notably, both currencies will remain in circulation for one month, with BGN cash payments given change in EUR, enabling a gradual withdrawal of BGN. Consequently, from February 1, 2026, EUR banknotes and coins will become the sole legal tender in Bulgaria.

Even before the official introduction of the EUR, the dual display of prices has been mandatory since August 8, 2025, and will continue until August 8 this year. This measure has a dual purpose: to familiarize consumers with the EUR and to protect them from unjustified price increases. 

To further protect consumers during the transition period, Bulgaria is enforcing consumer protection laws and conducting information campaigns. As part of the information campaigns, the Consumer Protection Commission will daily monitor and publish prices of 101 commonly purchased products.

Additionally, since January 1, all BGN bank accounts have been automatically converted into EUR, and BGN banknotes and coins can be exchanged free of charge for EUR at commercial banks, certain post offices, and the Bulgarian National Bank. For a single transaction over BGN 30,000, it is necessary to notify commercial banks at least three business days in advance. There is also a daily limit of BGN 10,000 when exchanging at post offices, and for transactions over BGN 1,000, advance notice of three to five business days is required.

However, the free exchange will be available until June 30, 2026, after which commercial banks and the post office may begin charging fees for exchanging BGN banknotes and coins. Additionally, starting January 1, 2027, commercial banks and post offices will no longer exchange BGN for EUR. For those who fail to exchange BGN for EUR, it is essential to know that the Bulgarian National Bank will continue to exchange BGN indefinitely, free of charge and without limits.

Those who want to exchange BGN for EUR outside Bulgaria can do so until March 1, 2026, at National Central Banks, with the exchange limit of BGN 2,000 per transaction per day.

Conclusion

With the introduction of the euro, Bulgaria became the 21st member of the euro area, and now more than 357 million EU citizens share the EU's common currency. This marks a significant step for both Bulgaria and the EU as a whole, which should contribute to more practical trade, banking, and travel.

Source: European Central Bank, European Commission, VATabout