Bulgaria: The Lev Exits Circulation, Enters Collector Circles
As Bulgaria phases out the lev at the end of January, the numismatic market is already responding to the change, though not all coins are attracting attention.
Eurozone nations have expressed their support for Bulgaria’s progress toward adopting the euro, as highlighted in the Eurogroup’s conclusions during the European Council meeting in Brussels. The statement noted that the next step would be to await the assessments from the European Commission and the European Central Bank (ECB).
Prime Minister Rosen Zhelyazkov, speaking to Bulgarian journalists in Brussels, expressed optimism about the country's readiness, stating that the extraordinary reports regarding Bulgaria's adoption of the euro would likely be completed by May or June. Bulgaria formally requested the preparation of these reports from the ECB and the Commission in February. According to Eurostat, Bulgaria's inflation rate, as of February, now meets the EU’s requirements for price stability.
Zhelyazkov also held discussions with ECB President Christine Lagarde and Eurogroup head Paschal Donohoe on March 20, focusing on Bulgaria’s eurozone accession. The talks took place during the European Council meeting, where Zhelyazkov briefed the officials on Bulgaria’s current fiscal plans, including the draft state budget for 2025, and its alignment with medium-term fiscal and structural goals. He reiterated that Bulgaria had met the Maastricht criteria for joining the eurozone and highlighted the country's ongoing commitment to fiscal discipline.
In the same vein, Donohoe praised Bulgaria's efforts towards adopting the euro, affirming that the country's progress will be evaluated by the EU institutions this spring. He commended Bulgaria's dedication and urged the continuation of reforms to ensure sustained economic convergence.
Twelve days into Bulgaria’s adoption of the euro, the transition is showing signs of strain, particularly in the exchange of levs for euros
The Bulgarian National Bank reported that as of January 9, cash in circulation denominated in Bulgarian leva stood at 16.1 billion leva, equivalent to roughly 8.23 billion euros
On a sunny morning in Sofia in early June 2025, excitement spread quickly through the Bulgarian National Bank. The long-awaited convergence report, requested from the European Commission and the European Central Bank in February, had arrived. It assessed
By law, banks in Bulgaria are allowed to accept all coins and levs for conversion into euros, with the exchange remaining free of charge until June 30
The Ministry of Finance has clarified that the one-month period of dual circulation of levs and euros in Bulgaria will not be extended and will officially conclude on January 31, 2026
Bulgaria’s transition to the euro is proceeding smoothly, with all relevant institutions having planned carefully for the change, Deputy Finance Minister Metodiev told
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