Bulgaria: Only 3.4 Billion Leva Left in Circulation as Currency Withdrawal Nears Completion

The withdrawal of the Bulgarian lev from circulation is nearing completion, according to the latest data from the Bulgarian National Bank. The central bank reports that approximately 89 percent of lev banknotes and coins have already been collected and returned to its vaults.

At present, around 3.4 billion leva remain outside the central bank, still circulating among the public. The figures show a noticeable change compared with the previous update released on February 27, when the share of withdrawn currency stood at 87 percent. At that time, about 3.9 billion leva were still held by households and businesses across the country.

The difference between the two reports indicates that roughly 500 million leva have been returned to the central bank system over the past two weeks. The steady reduction in the amount of cash in circulation reflects the ongoing transition process related to the replacement of the national currency.

Meanwhile, the financial system continues to operate normally. According to the central bank, more than 8 billion euros are currently circulating in the country, providing sufficient liquidity to maintain the functioning of payments and transactions across Bulgaria.

Officials overseeing the currency transition say the process is nearing its final stage. The Coordination Center responsible for introducing the new currency announced last week that the preparations for the euro’s introduction in Bulgaria are now almost complete.