Part of Bulgarians’ savings in foreign currencies will be deposited with the banks, because of the introduction of the single European currency on January 1, representatives of four Bulgarian banks - United Bulgarian Bank, Bulbank, Commercial Bank Biochim, and the Bulgarian Post Bank, claim. These are the four banks that signed a memorandum with the Bulgarian National Bank (BNB) on the exchange of national currencies into euros. The expected euro currency in circulation in Bulgaria ranges from a minimum EUR 500 M up to a maximum EUR 1 BLN, Martin Zaimov, BNB deputy Director, said. According to him the figures depend on the activity of the people in the first two months of 2002 when the currency exchange into euros will be free of charge.

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