A man involved in the currency exchange business has been killed meters away from his home in Plovdiv, the second-largest Bulgarian city, police say.

Stefan Tehov, 62, was shot dead in front of his car on Monday evening.

Robbery was the most likely motive, according the Interior Ministry's Chief Secretary Svetlozar Lazarov.

Preliminary information quoted by private national TV station bTV suggests a muffler was used in the murder, since neighbors deny having heard anything from the street.

In January, another businessman,known as Dimitar "Ludiya" ("Madman") Stoyanov, was murdered in Plovdiv, with police still looking after the perpetrators.

Tehov is known among the locals for owning one of the oldest currency exchange bureaus in the city.