site.btaBNB Reports First Annual Decline in Cash Circulation Since 2010 as Eurozone Accession Nears

In the second quarter of the year money in circulation in Bulgaria decreased by 0.3% on an annual basis to a total of BGN 29.323 billion. This represents a decrease of BGN 90.9 million compared to the same period in 2024. The last decrease in money in circulation on an annual basis was in July 2010, according to a quarterly review of the emission and cash operations of the Bulgarian National Bank published on the institution's website Thursday.

For the April-June 2025 period, money in circulation decreased by BGN 775.4 million, or 2.6%, compared to the end of March 2025.

At the end of June 2025, there were 569.5 million banknotes in circulation, down by 14.2 million, or 2.4%, compared to the end of March 2025. Over the same period, their total value decreased by 2.7%, reaching BGN 28.644 billion at the end of June this year. Over a one-year period, the number of banknotes in circulation decreased by 21.1 million (3.6%), and their value decreased by BGN 118.8 million (0.4%). The number of banknotes in circulation in Bulgaria at the end of June was the lowest in two years.

"Such a trend, in which a decrease in the number of banknotes in circulation was observed in the second quarter of 2025, was largely expected. It is directly related to the upcoming accession of the Republic of Bulgaria to the eurozone on January 1, 2026, when the euro will replace the Bulgarian lev as legal tender," the BNB said.

The average value of banknotes in circulation at the end of the second quarter of 2025 was BGN 50.30, which represents a decrease of BGN 0.11 compared to the end of March 2025. Over a one-year period, its value increased by BGN 1.59, or 3.3%.

At the end of June 2025, there were 3.379 billion coins in circulation, up by 28.5 million, or 0.9%, compared to the end of March 2025. During the same period, their total value increased by BGN 6.5 million, or 1%, reaching BGN 632.9 million at the end of June 2025.

Over a one-year period, the total number of coins in circulation increased by 98.5 million (3%), and their value increased by BGN 28 million (4.6%).

The average value of a coin in circulation at the end of the second quarter of 2025 was BGN 0.19, unchanged from the end of the first quarter. Over a one-year period, it increased by BGN 0.01.

In the April-June 2025 period, a total of 1,248 counterfeit Bulgarian banknotes (including 1,247 in circulation) were seized by the National Analysis Centre of the BNB. Compared to the first quarter of 2025, this is an increase of 1,084.

The share of counterfeit banknotes seized in the second quarter relative to the total number of banknotes in circulation at the end of June 2025 was 0.000219%.

Of the total number of counterfeit Bulgarian banknotes seized in the second quarter of 2025, the largest share was held by those with a face value of BGN 100 (53.04%), followed by those with a face value of BGN 50 (42.55%).