site.btaBanknotes in Circulation Fall to a Four-Year Low

The number of banknotes in circulation in Bulgaria has fallen to a four-year low, according to Bulgarian National Bank data published on Wednesday. At the end of September this year, the number of banknotes in circulation was 533,69. The last time a lower figure was recorded was in June 2021, more than four years ago, when there were 528,88 million banknotes in circulation in the Bulgarian economy.

On a monthly basis, banknotes in circulation decreased by 4%, or just over 23 million. On an annual basis, the decline was nearly 12%, or 71,2 million. By comparison, the number of banknotes reached 604,92 million at the end of September last year.

The number of banknotes decreased across all denominations. At the end of September this year, the most numerous remained the BGN 50 banknotes - 214,6 million, followed by the BGN 100 banknotes – 133,1 million.

The total value of banknotes in circulation amounted to BGN 26.55 billion at the end of September, which is the lowest level since May 2023, when the value reached BGN 26,15 billion. The highest value was held by BGN 100 banknotes, totalling BGN 13.3 billion, followed by BGN 50 banknotes, totalling BGN 10,7 billion. The number of coins in circulation was 3.38 billion, with a value of BGN 620.3 million. On a monthly basis, the value of banknotes decreased by BGN 1,14 billion, or a decline of 4%, while on an annual basis, the decrease amounted to 10.5%, or a decline of BGN 3,13 billion.

Against the backdrop of a decline in money in circulation in the country, household deposits in the Bulgarian banking system grew by 12.7% year-on-year to BGN 95,417 billion at the end of August this year, according to data from the Bulgarian National Bank. The increase over one year amounts to nearly BGN 11 billion.

Bulgaria will introduce the euro on January 1, 2026, and within one month, the single European currency and the Bulgarian lev will function as official means of payment in the country. From February 1, 2026, the euro will become the only official currency in Bulgaria. The exchange of levs into euros will be carried out at commercial bank branches, in over 2,000 offices of Bulgarian Post, and at the Bulgarian National Bank. During the first six months, currency exchange will be free of charge, after which operators may introduce an exchange fee. In connection with the transition from the lev to the euro, a number of commercial banks in the country have abolished the fee for depositing cash at the cash desk. Money held in accounts at commercial banks will be automatically revalued at the official exchange rate.