site.btaNecessary Euro Banknotes to Be Provided Well Before June 1, 2026 to Ensure Smooth Transition - Central Bank Governor

All the necessary quantities of euro banknotes will be provided well before January 1, 2026, when Bulgaria is expected to join the eurozone, so that the changeover to the euro proceeds smoothly, in an orderly manner and without interruptions in monetary circulation, Bulgarian National Bank (BNB) Governor Dimitar Radev said in an interview with the Manager magazine. According to Radev, the production of euro banknotes is centrally coordinated by the European Central Bank, which sets strict standards for quality, security and technological compatibility.

"The euro banknotes are printed jointly by the national central banks of the euro area countries. In order to ensure the necessary quantities for the start-up phase, initial supplies will be on loan from other national central banks. In parallel, the BNB will join the Eurosystem's joint production pool and start printing euro banknotes on its own," Radev said.

The BNB Governor said that it is the central bank's priority to ensure smooth circulation of cash in the country, including in remote areas. The euro introduction plan envisages detailed and timely logistical preparations, including pre-loading of euro notes and coins at BNB cash centres, commercial banks and other key players in the monetary system, he explained. Particular attention will be paid to remote and underserved areas, where Bulgarian Posts will play an active role, assisting in access to the new currency in settlements without a banking presence, Radev added.

He said that in order to ensure the correct conversion of prices and prevent speculative increases and unfair trading practices, continuous monitoring will be carried out under the guidance of the Council of Ministers in coordination between the Commission for Consumer Protection, the National Revenue Agency and the Commission for Protection of Competition. He said the BNB would support the process within the framework of its competences, including the exchange rate, payment systems and financial sector supervision.

"The European Central Bank's methodology for monitoring prices during the introduction of the euro will also be applied. The process will be transparent, based on systematic data collection and analysis, and will take place in close inter-institutional coordination," he noted.

Among the benefits associated with joining the euro area, Radev pointed to the elimination of currency risk, improved financing conditions, greater predictability for businesses and households, fuller integration into European financial markets and increased investor confidence, which is beneficial for growth and stability.