Sofia, January 2, 2026
– Bulgaria has officially adopted the euro as its national currency, becoming the 21st member of the eurozone on January 1, 2026. The historic switch, which replaces the longstanding Bulgarian lev, was marked by celebrations in Sofia, including fireworks and projections of euro coins on the facade of the Bulgarian National Bank as crowds welcomed the New Year.
The transition ends nearly two decades of preparation since Bulgaria joined the European Union in 2007. The lev, a symbol of national identity meaning “lion,” has been pegged to the euro at a fixed rate of 1.95583 lev per euro since 1999. All bank accounts, deposits, loans, and financial products were automatically converted to euros at this irreversible rate, with no fees charged.
A dual circulation period is in place throughout January 2026, allowing payments in both lev and euros, though change must be given in euros. From February 1, only euros will be accepted for transactions. Lev banknotes and coins can be exchanged free of charge at banks and certain post offices until June 30, 2026, and indefinitely at the Bulgarian National Bank.
European leaders hailed the milestone. European Central Bank President Christine Lagarde called it “a historic milestone that will strengthen trade, travel, and financial stability across Europe,” welcoming Bulgaria to the “euro family.” The move brings the total number of people using the euro to over 358 million.
Bulgaria, the EU’s poorest member state, met the necessary convergence criteria—including inflation, public debt, and exchange rate stability—after delays pushed back earlier targets from 2024 and 2025. The final approvals came in July 2025 from the EU Council, European Parliament, and ECB.
While many view the adoption as a step toward greater economic integration, lower transaction costs, and increased investor confidence, public opinion remains divided. Recent surveys showed around 49% of Bulgarians opposed the switch, with concerns over potential price increases and inflation. Officials, including outgoing Prime Minister Rosen Zhelyazkov, have emphasized that the change is not linked to rising costs and urged tolerance during the transition.
Prices have been displayed in both currencies since August 2025 to ease the shift. Bulgarian euro coins feature national symbols, such as the Madara Rider on the €1 coin, preserving elements of cultural heritage.
With this adoption, Bulgaria joins Croatia (2023) as the most recent entrants to the single currency, further solidifying its ties to the European mainstream.
Bulgaria Rings in 2026 as the Eurozone’s Newest Member!
