Bulgaria’s Euro Transition Accelerates as €3.1 Billion in Cash Enters Circulation

The Bulgarian National Bank reported that as of January 9, cash in circulation denominated in Bulgarian leva stood at 16.1 billion leva, equivalent to roughly 8.23 billion euros. This amount represents about 48% of the total volume of lev banknotes and coins that are currently being withdrawn from circulation.

According to the BNB, the supply of euro cash to commercial banks is proceeding according to the pre-approved operational plans. So far, euro banknotes and coins with a total value exceeding 3.1 billion euros have already been released into circulation to meet demand during the transition period.

To guarantee uninterrupted access to currency exchange services, the BNB’s cash desks, as well as those of Cash Services Company AD and its regional branches, will operate with extended working hours. In addition to regular days, lev-to-euro exchanges will also be available on January 17, 24, and 31, 2026.

For the first six months of 2026, all banks will exchange lev banknotes and coins into euros free of charge and without quantity limits, applying the official fixed exchange rate. When the amount exceeds 30,000 leva, which is approximately 15,340 euros, customers must submit a request at least three working days in advance. Depositing levs into a bank account and converting them into euros is also carried out free of charge.

Banks are required to perform these exchanges not only for their own customers but also for individuals who do not hold accounts with them, without restrictions on the type or volume of cash exchanged. For non-clients exchanging amounts of up to 5,000 euros, identification is done using a valid identity document. For higher sums, banks must apply full identification procedures and request declarations on additional circumstances, including the origin of the funds, in line with existing legislation.

Large-volume coin exchanges are handled only at bank branches equipped with specialized machinery, as the process requires additional technical time. Banks are obliged to inform customers and direct them to branches where such equipment is available.