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Bulgaria’s Exchange Bureaus to Fall Under Scrutiny

Business | June 30, 2014, Monday // 13:16| Views: 1024 | Comments: 0
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Bulgaria: Bulgaria’s Exchange Bureaus to Fall Under Scrutiny Photo by BGNES

Bulgaria’s National Revenue Agency will conduct an extensive nation-wide checkup of currency exchange bureaus.

The reason for the tightened control is the upcoming summer tourist season, when the frauds increase.

According to the law, currency exchange bureaus operate at an exchange rate within 5% of the one fixed by the Bulgarian National Bank (BNB).

One of the most common schemes is to switch the numbers of the rates between what is shown outside and inside the bureau, with many clients failing to spot the difference and thus being cheated.

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Tags: National Revenue Agency, currency exchange, Bulgarian National Bank, BNB
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