Bulgaria will become the 21st country in the eurozone, which will bring benefits to the country and also to foreign tourists, writes the magazine of the German automobile club ADAC, which has over 20 million members. Here is the important thing.
Bulgaria will be the 21st country in the eurozone, writes the publication and reports that the introduction of the common European currency is scheduled for January 1, 2026. The German automobile club clarifies some key facts.
The government's plan is to introduce the euro from January 1, 2026
Exchange rate: 1 euro = 1.95583 leva
After the introduction of the euro – exchange of levs will be available only in Bulgaria
The plans for the introduction of the euro in Bulgaria are becoming more and more concrete, the magazine reports. At the end of February, the Bulgarian government requested an extraordinary convergence report from the European Central Bank (ECB). This step is a prerequisite for the introduction of the common European currency. With it, the ECB must confirm that the country meets all the criteria in the field of monetary policy and financial stability. If the report is positive, it will give the green light for Bulgaria's planned admission to the eurozone from January 1, 2026.
Exchange rate euro - lev
The Bulgarian lev has practically been fixed to the European currency for a long time, due to the fact that the Currency Board at the time tied the lev to the German mark. The publication explains that this happened back in the 1990s after a serious financial crisis in the country.
1 euro will correspond to 1.95583 leva. This is the rate that is set for the exchange of money after the introduction of the euro.
Travel facilitation
The introduction of the euro in Bulgaria will have a very positive impact on travel opportunities, the publication also states. Those traveling to Bulgaria will no longer need to exchange currency, and when making online payments they will not suffer losses from exchange rates. In recent years, there have been reports that some exchange offices are deceiving foreign tourists with greatly inflated exchange rates and fees.
Another benefit of the euro is that comparing prices for goods and services in Bulgaria and in other countries in the eurozone will now be incomparably easier.
Transition period
As in other countries that have adopted the euro, there will be a two-month transition period in Bulgaria, during which payments will still be possible in both currencies, and the prices of all goods and services will be indicated in parallel. After this transition period, payments will only be made in euros.
If you still have Bulgarian leva at home from your last vacation in this country and are not planning a new trip there, it is important to exchange them for euros in good time. If Bulgaria introduces the euro as planned, German banks will only exchange leva until the end of the year. After that, this exchange will only be possible in Bulgaria.
Eurozone countries
With Bulgaria, the number of countries in the eurozone will officially increase to 21.
In addition to these countries, the common European currency is also legal tender in the small European countries of Andorra, Monaco, San Marino and the Vatican. The two Balkan countries of Montenegro and Kosovo have adopted the euro unilaterally, without EU approval.
The last country to join the eurozone so far was Croatia. This happened on January 1, 2023. Initially, there were serious concerns about price increases, but these were not justified. Remaining Croatian kunas can only be exchanged at the Central Bank of Croatia since then.
Future members?
No other new members of the eurozone are expected - at least not anytime soon. In principle, Romania also wants to adopt the euro, but its plans on this issue are still very general. According to statements by members of the Romanian government, the country will adopt the common currency no earlier than 2029.
In principle, all EU countries have the right to adopt the common European currency. However, the Czech Republic, Poland and Hungary have postponed this indefinitely. Referendums were held in Denmark and Sweden, in which the population voted against joining the eurozone.
In Bulgaria, there are also forces that oppose the introduction of the euro. The "Vazrazhdane" party wanted to organize a referendum against the euro and regularly calls for protests, some of which have ended in physical violence.