On 1 January 2026, Bulgaria became the 21st member of the eurozone. From that day, the euro in Bulgaria replaced the lev as the official currency. Also, the fixed conversion rate is 1.95583 lev to one euro. Notably, the Council of the European Union approved Bulgaria’s entry and this rate on 8 July 2025. Hence, Bulgaria completed a process that began with its EU membership in 2007.
Dual Circulation in January
First, for one month, people could pay in either lev or euro. However, shops could give change only in euros. Then, from 1 February 2026, euro banknotes and coins became the sole legal tender. Meanwhile, shops had started showing prices in both currencies from 8 August 2025.
How the EU Approved Bulgaria’s Entry
On 8 July 2025, ECOFIN, the council of EU finance ministers, adopted three legal acts unanimously. Earlier that morning, the European Parliament had backed the move. Meanwhile, Danish Minister for Economic Affairs Stephanie Løse chaired the meeting. She said, “As of today, Bulgaria takes its place as the 21st member of the eurozone.” Also, the decision fixed the rate at the lev’s central rate in ERM II.
About the Eurozone
The eurozone, or euro area, covers EU members that use the euro as their currency. The euro began as a book currency in 1999, and then cash followed in 2002. Moreover, the European Central Bank (ECB) in Frankfurt sets monetary policy for the zone. Before Bulgaria, Croatia joined as the 20th member on 1 January 2023. Also, members must meet the Maastricht criteria and spend two years in ERM II.
About Bulgaria
Bulgaria lies in south-eastern Europe on the Black Sea coast. Its capital is Sofia. Notably, it joined the European Union on 1 January 2007, along with Romania. Since 1997, a currency board had pegged the lev, first to the Deutsche Mark and then to the euro.
Euro in Bulgaria: Key Facts for Revision
- Date of entry: 1 January 2026
- Position: 21st eurozone member
- Conversion rate: 1.95583 lev = 1 euro
- EU Council approval: 8 July 2025
- Sole legal tender: Euro from 1 February 2026
- Previous entrant: Croatia (20th, 2023)
- Capital: Sofia
Why the Euro in Bulgaria Matters for UPSC and UKPSC
Notably, currency unions appear in GS Paper 2 on international groupings and GS Paper 3 on the economy. So, remember the 21st member, the 1.95583 rate and the ECB’s role. Also, link euro adoption with the Maastricht criteria and ERM II. For official updates, also visit European Central Bank. Next, for a related story, read about five Indian states crossing the World Bank’s upper-middle-income threshold.
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