Bulgarian Withdraw Over a Third of Leva as Euro Exchange Accelerates

On the first working day of 2026, January 5, Bulgarians exchanged around 3.5 million leva for euros, marking continued progress in the country’s currency transition. Between January 1 and 5, authorities conducted over 4,000 inspections through the National Revenue Agency (NRA) and the Consumer Protection Commission (CPCo), resulting in 275 administrative penalties and 80 penalty orders. Most sanctions were minor, as they involved first-time violations, according to Vladimir Ivanov at a briefing of the Coordination Center for the Euro Mechanism at the Council of Ministers. Inspections are set to continue at a rate of over 300 per day until January 9, targeting small grocery stores, hair salons, beauty studios, fitness centers, paid parking lots, and language schools, with winter resorts joining the oversight from January 8.

The Bulgarian National Bank reports that 36.3% of leva in circulation have already been withdrawn, with the bulk expected to be removed by the end of March. Citizens are reminded that euro banknotes and coins can be obtained from any commercial bank, and exchanges should be conducted through banks or Bulgarian Posts to avoid potential criminal schemes. Ivanov stressed that the process of euro introduction is proceeding smoothly, contrary to previous concerns expressed before December 31, 2025, and assured that weekly updates from the Coordination Center will continue to provide detailed information about the transition and the availability of currency. At the official conversion rate of 1 euro = 1.95583 leva, 3.5 million leva exchanged equals approximately €1.79 million.