The National Bank of Bulgaria signed a memorandum of cooperation with the Association for Modern Trade, which represents large retail chains, to coordinate work linked to Bulgaria’s planned accession to the euro area. The arrangement is positioned as support for euro-related public information efforts and for addressing concerns about speculative price increases during the transition. Governor Dimitar Radev framed euro adoption as reducing currency risk, protecting the economy from speculative pressure, raising investor confidence, and deepening financial integration, and highlighted the memorandum’s role in enabling joint activities for the euro information campaign. The Association’s executive director, Nikolay Valkanov, said major retail chains are preparing for the coming months, particularly the period of dual circulation of the lev and the euro, and intend to provide consumers with a secure environment for protecting their rights and interests. After the signing, the two institutions’ leaderships met to discuss future joint initiatives in the context of euro area accession.
National Bank of Bulgaria 2025-06-03
National Bank of Bulgaria signs cooperation memorandum with the Association for Modern Trade to support euro adoption outreach
The National Bank of Bulgaria signed a memorandum of cooperation with the Association for Modern Trade to support Bulgaria's planned accession to the euro area. The agreement aims to coordinate public information efforts and address concerns about speculative price increases during the transition. Governor Dimitar Radev emphasized the benefits of euro adoption, including reduced currency risk and increased investor confidence.