site.bta48% of Bulgarian Leva Cash Withdrawn as Euro Exchange Continues

As of January 9, the total volume of Bulgarian leva in circulation stands at BGN 16.1 billion, meaning that 48% of available cash in leva has been withdrawn from circulation, the Bulgarian National Bank (BNB) reported on its website on Saturday.

The process of exchanging banknotes and coins from leva to euro following Bulgaria's accession to the euro area on January 1 is being carried out in accordance with the applicable regulatory framework and the adopted operational plans, the BNB said.

Euro banknotes and coins with a total value of over EUR 3.1 billion have already been put into circulation, the country's central bank noted.

To ensure access to the exchange service, the BNB’s counters and the branches of Cash Services Company AD will operate on an extraordinary basis on Saturdays — the 10th, 17th, 24th, and 31st of January — carrying out exchanges of leva into euro. Some commercial banks in the country are also providing exceptional service on Saturdays throughout January.

During the first six months of 2026, banks will carry out free exchanges of lev banknotes and coins into euros in unlimited amounts at the official exchange rate (BGN 1.95583 to EUR 1). For amounts exceeding BGN 30,000, a prior request of three working days is required. Free exchange also applies to depositing and converting leva into a client’s euro account, the BNB noted.

Banks are obliged to provide free exchanges both to their own clients and to non-clients, without restrictions regarding the type or amount of banknotes and coins exchanged. For exchanges by non-clients of a bank, identification is carried out using a valid identity document for amounts up to EUR 5,000. Above this limit, identification and declaration of additional circumstances, including the source of funds, are required in accordance with legal requirements.

The exchange of coins in large quantities is carried out at bank branches equipped with specialized machinery, as processing takes technical time. Banks provide information and direct clients to branches with the necessary equipment.

The BNB conducts checks within its competence on any reports related to the process of exchanging leva into euro. Violations identified so far in the banking sector are isolated and corrected upon detection in accordance with applicable regulations. In individual cases of improperly charged fees, the amounts charged have been promptly corrected and refunded; therefore, there are currently no cases of citizens being disadvantaged, the BNB added.

In January, payments can still be made in leva, but from February only euro may be used.