Bulgaria has officially adopted the euro as its currency on January 1, 2026, replacing the Bulgarian lev and becoming the 21st member state of the eurozone in a historic milestone for the Balkan nation.
The currency transition marks the culmination of years of preparation and economic reforms undertaken by Bulgaria to meet the strict convergence criteria required for eurozone membership. The country had been using a currency board arrangement that pegged the lev to the euro since 1997.
Bulgarian citizens began exchanging their lev banknotes and coins for euros at banks and exchange points across the country. A dual circulation period will allow both currencies to be used for a transition period, though the euro will be the sole legal tender going forward.
Prime Minister and government officials celebrated the historic moment, describing it as a significant step toward deeper European integration. The adoption of the euro is expected to boost investor confidence, reduce currency exchange costs for businesses and travelers, and strengthen Bulgaria's position in the European economy.
The European Central Bank welcomed Bulgaria's entry into the eurozone, noting that the country had successfully met all the necessary economic criteria including inflation targets, budget deficit limits, and exchange rate stability requirements.
Critics have expressed concerns about potential price increases during the transition period, a phenomenon observed in some countries following euro adoption. Authorities have pledged to monitor prices closely and take action against any unjustified price hikes.
Bulgaria joins Croatia, which adopted the euro in 2023, as the most recent additions to the common currency area that now spans 21 of the 27 EU member states.
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