Bulgaria Sees Record Euro Demand Ahead of January 2026 Currency Transition

Tavex has reported unprecedented demand for euros in Bulgaria at the end of 2025, with transactions surging over 120% compared to the same period last year and exceeding June’s peak by 15%. This represents the highest demand the company has recorded so far.

“Currently, there is almost no supply of euros from customers, creating a one-sided market,” noted Max Baklayan from Tavex. “Last year at this time, buying and selling volumes were balanced. The current shortage is putting significant upward pressure on prices, as we ourselves are forced to procure currency at higher rates. We advise customers to stay calm and take advantage of the regulated and free exchange starting on January 1, 2026.”

When demand far exceeds supply, prices naturally rise, and anyone exchanging levs now is likely to pay a higher rate due to the imbalance. From January 1, 2026, the Bulgarian National Bank (BNB) will exchange levs into euros indefinitely and without fees at the fixed rate of 1.95583 levs per euro, including through its cash centers. Commercial banks and Bulgarian Posts EAD will also exchange levs into euros without fees at the official rate until June 30, 2026, after which fees may be introduced.

During January 2026, levs and euros will circulate simultaneously. Merchants will give change in euros when payments are made in levs, unless they lack euro cash, in which case change may be given in levs. For cash transactions, merchants may refuse to accept coins above 50 leva. For example, paying a 15 leva purchase with a 20 leva note will result in 5 leva in change, which converts to roughly 2.56 euros.

All types of lev accounts - current, savings, and deposits - will be automatically and free of charge converted to euros on January 1, 2026. From that date, all cashless payments will be made exclusively in euros, without requiring any action from customers.

Baklayan emphasized that there is no need for consumers to rush. “They have time and should wait to take advantage of the official, regulated, and free exchange starting on January 1, 2026.”

Source: Tavex press release