The National Bank of Bulgaria’s Governing Council has adopted two new ordinances under Bulgaria’s National Plan for the introduction of the euro, repealing legacy rules on exchanging pre-1999 lev cash and on the nominal value and design specifications of banknotes and coins. The first ordinance repeals the 1999 framework for exchanging old, non-denominated lev banknotes and coins, following the repeal of the relevant provision in the Law on Denomination of the Lev through the transitional provisions of the Law on the Introduction of the Euro in the Republic of Bulgaria. It applies to lev cash issued before 1999, which was withdrawn from circulation in 1999 and is not legal tender. The National Bank of Bulgaria notes that exchange arrangements for lev banknotes and coins issued after 1999 and currently legal tender are unchanged, and that under the euro introduction law it will exchange lev banknotes and coins into euro free of charge, in unlimited amounts and without time limit, at the official exchange rate. The second ordinance repeals the 2019 rules on the nominal value, content, form and design of banknotes and coins in circulation, in view of the repeal of the 1997 Law on the Bulgarian National Bank from 1 January 2026 and the entry into force of the 2024 Law on the Bulgarian National Bank.
National Bank of Bulgaria 2025-12-08
National Bank of Bulgaria adopts ordinances repealing pre-1999 lev cash exchange rules and lev banknote and coin specification requirements
The National Bank of Bulgaria's Governing Council adopted two ordinances under Bulgaria’s National Plan for euro introduction, repealing legacy rules on pre-1999 lev cash and banknote and coin specifications. The first ordinance addresses the exchange of old lev banknotes and coins, while the second repeals 2019 rules on banknote and coin design, aligning with the upcoming 2024 Law on the Bulgarian National Bank. Current exchange arrangements for post-1999 lev remain unchanged.