Bulgaria adopted the euro as its official currency on New Year’s Day, becoming the 21st member of the eurozone, authorities said.
The move marks a major step for the Balkan country, which joined the European Union in 2007 and has spent years working to meet the bloc’s economic and financial criteria.
During a one-month transition period in January, the Bulgarian lev will continue to circulate alongside the euro. From February 1, however, the euro will become the country’s sole legal tender.
Between January 1 and June 30, residents will be able to exchange lev for euros free of charge at banks and post offices. After that period, currency exchanges will be subject to fees, officials said.
The European Commission announced on June 4, 2025, that Bulgaria had met the requirements to adopt the euro from January 1, 2026, a conclusion set out in its 2025 Convergence Report, prepared at Sofia’s request.
A parallel assessment by the European Central Bank supported the Commission’s findings, clearing the way for Bulgaria’s entry into the single-currency area.
Bulgaria’s accession comes as the eurozone seeks to deepen financial integration and stability, even as it faces economic uncertainty, inflationary pressures and geopolitical risks.
The euro was introduced in 1999 for electronic transactions and entered circulation in 2002, gradually expanding to include new member states from central and eastern Europe.
