site.btaBNB Governor Assures Bulgarian People that Banks Are Fully Prepared for Currency Conversion

Bulgarian citizens should remain calm about the adoption of the euro on January 1, 2026, as the Bulgarian National Bank (BNB) and commercial banks are fully prepared for all processes related to currency conversion and the distribution of euro banknotes, said BNB Governor Dimitar Radev during a joint press conference with European Central Bank (ECB) President Christine Lagarde in Sofia on Tuesday. The event took place following the high-level conference “Bulgaria on the Doorstep of the Eurozone”, held at the Boyana Residence.

According to Radev, the BNB — working closely with the ECB and the national central banks of the euro area — has carefully organized every aspect of the euro’s introduction in Bulgaria. He noted that throughout January 2026, payments in Bulgaria will be possible in both leva and euros, while all electronic transactions will be conducted in euros.

“Our banking system is strong, well-capitalized and highly liquid. It is fully prepared to handle the increased activity expected in the first days of the year and to ensure a confident start to Bulgaria’s euro area membership,” Radev said.

“In short, my advice to citizens is simple — stay calm and be practical. There is no need for excessive or special preparation. The central bank and the commercial banks are indeed ready,” he added.

Addressing Christine Lagarde, the BNB Governor said that her visit came at an especially important moment for Bulgaria. “I deeply value your leadership and your vision at the helm of the European Union, especially in these times of profound economic and geopolitical uncertainty,” Radev said.

“Our country is approaching the final stage of its path towards euro area membership — a goal that has guided our national institutional efforts for many years,” he continued, adding that the process has been driven by a strategic vision to strengthen stability, European integration and convergence.

According to him, Bulgaria’s banking sector has already reached a high level of alignment with the euro area framework and is ready for the next step — the official adoption of the euro. Radev stressed that this achievement reflects years of consistent effort, as well as support from the ECB and Bulgaria’s European partners.

“The forthcoming adoption of the euro will mark a truly historic milestone for Bulgaria. It will complete our economic and monetary integration with Europe, enhance confidence in our financial system and open new prospects for growth and prosperity,” he said.

The BNB Governor also emphasized that the advantages of euro area membership come with new responsibilities. “At the same time, it will bring new responsibilities — responsibilities we are ready to assume with the same prudence and discipline that have guided us so far. Bulgaria’s entry into the euro area is also an expression of our trust in and contribution to the European project — a project built on cooperation, solidarity and shared responsibility. We firmly believe that a stronger, more integrated Europe benefits all its members, and we are committed to playing our role within this common framework,” Radev concluded.