site.btaPM Zhelyazkov: Citizens Should Exchange Levs for Euros Wisely and Avoid Carrying Large Amounts of Cash

"The only recommendation I feel compelled to make is to avoid spontaneous, panicked exchanges of levs for euros, it is unnecessary unless people have an immediate need after the first month has passed. That is, from February [2026] onward, if they need to, they can do it, but before that, let them do it wisely, smartly, and without carrying large amounts of cash, because we are all aware that criminals don’t sleep and they will take advantage of that demand," said Prime Minister Rosen Zhelyazkov on Friday during Question Time in Parliament in response to a question from MP Pavlin Naydenov of the Alliance for Rights and Freedoms.

The Prime Minister noted that another option for exchanging levs into euros is to deposit cash savings into bank accounts, where the conversion will happen automatically.

"Under no circumstances should people spend money in a panic, because that would flood the market with a large cash flow and trigger other economic processes for which there are no real grounds," Zhelyazkov warned.

He said that the measures related to the introduction of the euro are detailed in the Introduction of the Euro in the Republic of Bulgaria Act and the Euro Adoption Plan. He stated that most of these measures will begin after the EU Council adopts a decision to amend the regulation lifting Bulgaria's derogation related to its membership in the Economic and Monetary Union. "If that date is July 8, then the measures outlined in the Euro Adoption Plan, as well as the implementation deadlines for each specific measure, will begin from that date," the Prime Minister said.

"If the date is January 1, 2026, there will be a one-month period of dual circulation of both levs and euros. The exchange of levs for euros will be unlimited in time — the Bulgarian National Bank (BNB) will exchange the currency indefinitely and without any fees," Zhelyazkov added.

He emphasized that the currency exchange will be conducted at all branches of commercial banks, fee-free for six months, using the official and approved exchange rate. The same conditions apply to branches of Bulgarian Posts, and the Prime Minister added that, in cooperation with the Ministry of Interior, the necessary logistics have been arranged to ensure the functioning of exchange points and the protection of people in smaller settlements.