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. Any violations of these rules carry penalties ranging from 5,000 BGN (€2,550) to 200,000 BGN (€102,000), according to Vladimir Ivanov, head of the Euro Coordination Center, speaking on Nova TV.

Ivanov stressed that retail stores must provide change in euros whenever possible. Payments in levs are only acceptable when euros are unavailable, and customers should have the option to see if euros are present at the cash register. He raised concerns over the uneven availability of the new currency among merchants, noting that some have euros while others do not.

Merchants are also prohibited from exclusively accepting card payments, and Ivanov confirmed that there will be no extension to the period for collecting levs. The Bulgarian National Bank has already withdrawn 36.3% of circulating lev cash, including both coins and notes.

On the topic of rounding during currency conversions, Ivanov said that adjustments that slightly disadvantage customers do not affect the overall transition to the euro.

Regarding inspections into unjustified price increases, Ivanov provided updates: authorities have conducted 800 inspections, opened 70 criminal cases, and issued 27 criminal decrees.

He also addressed the recent rise in ID card issuance fees, calling it a “mistake.” While he acknowledged the increase is justified, Ivanov questioned whether the timing was appropriate.

On a broader note, he pointed out that the prices of basic food products have not risen over the past year, contradicting concerns about inflation during the currency transition.

Source: Nova TV