Introduction of the euro
Information for business

Conversion refers to the change of the monetary unit from the Bulgarian lev to the euro by applying the official exchange rate and the rounding rules set out in the Euro Introduction in the Republic of Bulgaria Act. Conversion applies to prices, deposits, loans, financial instruments, and other relevant items.

The official exchange rate of BGN to EUR is the irrevocably fixed rate of BGN to EUR. The Republic of Bulgaria will adopt the EUR as its official currency while maintaining the central exchange rate of 1.95583 BGN for 1 EUR.

In the last two months of 2025, companies must go through a procedure for frontloading with EUR banknotes. Credit institutions will organise the supply of “Bulgarian Posts” EAD and merchants with EUR banknotes, EUR coins, and starter coin kits, based on agreements signed between the banks and the merchants.
To avoid queues and last-minute crowding at bank branches, each bank will provide EUR banknote packages to companies according to a set schedule.

EUR banknotes and coins received by merchants may not be used before 1 January 2026.
You may contact BACB to clarify the terms and procedures under which you can obtain EUR banknotes and coins before the introduction of the euro, to ensure your operations continue smoothly after the transition.

No. Until the date of the EUR’s introduction in the Republic of Bulgaria, the official currency of the country remains the BGN.

No, there is no need to do so. All BGN accounts at BACB will be converted automatically into EUR free of charge as a one-time operation at the official fixed exchange rate. This will be done in accordance with the rounding rules set out in Articles 12 and 13 of the Euro Introduction in the Republic of Bulgaria Act, while maintaining the terms of the relevant contracts in force prior to the conversion.

If as of 1 January 2026 you have payment accounts in both BGN and EUR at BACB, which are free of encumbrances, attachments, or other legal restrictions – including electronic money accounts – you may, within two months of the introduction of the euro, request the closure of one of the payment accounts and the transfer of its positive balance to the other, while preserving the terms of the receiving payment account. No fees or commissions will be charged for these operations. If the payment account to be closed has a debit balance or an associated credit card, the corresponding liability must be settled before closure.

No, the IBAN of BGN accounts will remain unchanged.

The conversion will take place on 1 January 2026 at the official exchange rate, free of charge for all customers. Your IBAN will remain unchanged. The agreed interest rates on deposit accounts will also remain unchanged.

No. All systems are prepared and tested to ensure your funds are safe and secure – both from technical errors and from malicious actions. It is not possible to lose your funds.

On 1 January 2026, all accounts – current, deposit, savings, and other accounts – at BACB will be converted automatically into EUR free of charge as a one-time operation. From that date, withdrawals from accounts will be possible only in EUR, whether via ATM/POS device or at a bank branch.

If the interest rate on your loan is fixed, BACB will continue to apply it after the euro is introduced. The transition from a fixed interest rate in BGN to a fixed interest rate in EUR will not result in less favourable conditions or outcomes for the client. If, as of the date of the euro introduction, your loan is subject to a variable interest rate, and the applicable benchmark/index/indicator is discontinued due to the adoption of the euro, the new interest rate applied to your loan cannot be higher than the rate that applied prior to the introduction of the euro.

It will be automatically converted into EUR by the bank using the official exchange rate and the applicable rounding rules. After the euro is introduced, the agreed loan terms – such as interest rate, duration, repayment method, etc. – will remain unchanged.

The instalment amount in BGN will be automatically converted using the official fixed exchange rate and the conversion rules. The repayment schedule agreed with the bank will not change.
All amounts due after 1 January 2026 – including principal, interest, fees, and the price of additional services – will be converted into EUR using the official BGN/EUR exchange rate and in accordance with the conversion and rounding rules set out in the Euro Introduction in the Republic of Bulgaria Act.

As of 1 January 2026, all loans granted in BGN or loans with a EUR currency clause will be considered euro-denominated loans. These will be converted using the official fixed exchange rate (expressed to five decimal places), and rounded according to the rules provided in the Euro Introduction in the Republic of Bulgaria Act.

The introduction of the EUR may not be used as a reason to renegotiate clauses of already concluded contracts or as grounds for any similar actions by the bank that would place its clients in a less favourable financial position.

The introduction of the EUR will not affect the validity of existing contracts that refer to the Bulgarian lev or contain references to the Bulgarian lev, including timeframes and obligations under any agreement.
All amounts stated in BGN in existing contracts will be considered amounts in EUR after applying the official exchange rate and the rounding rules in accordance with the Euro Introduction in Bulgaria Act.
Any reference to the BGN in a contract, where no specific amount is stated, will be considered a reference to the EUR.

The introduction of the EUR does not entitle either contractual party to unilaterally amend or terminate the contract, unless expressly agreed otherwise by the parties.

From the date of introduction of the euro in Bulgaria, all amounts due under attachments in BGN will be converted automatically into EUR as a one-time operation at the official exchange rate and in accordance with the rounding rules under Articles 12 and 13 of the Euro Introduction in the Republic of Bulgaria Act.