The Bulgarian National Bank published an operational update on the conversion of Bulgarian lev banknotes and coins into euro, stating that the exchange process is being carried out in line with the applicable legal framework and adopted operational plans. The update provides data on the withdrawal of lev cash from circulation, the rollout of euro cash, and the conditions under which the central bank and commercial banks exchange cash. As of 23 January 2026, lev banknotes and coins in circulation totalled BGN 10.1 billion, corresponding to 67% of the cash circulation outstanding at the start of 2025 having been withdrawn. The withdrawal pace is described as consistent with forecasts, with expectations that by mid-2026 around and above 90% of the value of banknotes and around and above 60% of coins (relative to the start of 2025) will have been exchanged into euro. Supply of euro banknotes and coins to credit institutions is proceeding under approved schedules and procedures, and more than EUR 5.3 billion in euro banknotes and coins has been put into circulation. The Bulgarian National Bank exchanges lev banknotes and coins into euro free of charge, in unlimited amounts, without time limits, at the official exchange rate; banks provide free, unlimited exchange during the first six months of 2026, with a three-working-day advance request required for amounts above BGN 30,000, and free deposit and conversion of lev into euro on a client’s account. To support access to exchange services, the Bulgarian National Bank’s cash desks and the territorial units of Cash Services Company AD will continue to operate exceptionally on Saturdays and will conduct lev-to-euro exchange on 24 January and 31 January 2026. The central bank also reported 158 bank-related signals received to date, with 14 in the last week, following banks’ measures to optimise branch organisation under the central bank’s guidance on the euro-introduction law.
National Bank of Bulgaria 2026-01-23
Bulgarian National Bank reports lev-to-euro cash exchange progress and maintains expanded exchange access
The Bulgarian National Bank reported that 67% of lev cash has been withdrawn, expecting over 90% for banknotes and 60% for coins by mid-2026. Over EUR 5.3 billion in euro banknotes and coins has circulated, with exchanges free of charge and without limits. The central bank and commercial banks are facilitating the exchange process, including extended operations and specific procedures for large amounts.