The Central Bank of Latvia published an expert overview of Bulgaria’s planned entry into the euro area, stating that Bulgaria is set to become the 21st euro area Member State on 1 January 2026 at a fixed rate of 1.95583 leva per EUR. The article sets out the main changeover arrangements, including one month of dual cash circulation of the lev and the euro until the end of January 2026, after which payments will be made only in euro. It notes that banknote exchange will be free of charge at the central bank, commercial banks and post offices for six months after the changeover, and thereafter at the National Bank of Bulgaria without time limitations and free of charge. The overview also flags domestic concerns about inflation and price rises, referencing other countries’ experience (including Latvia’s) as evidence that there are no economic grounds for post-accession price fears, and summarises Bulgaria’s planned national coin designs and Cyrillic inscriptions.
Central Bank of Latvia 2025-10-07
Central Bank of Latvia publishes overview of Bulgaria’s euro adoption on 1 January 2026 with fixed conversion rate
The Central Bank of Latvia released an expert overview on Bulgaria's planned euro area entry, scheduled for 1 January 2026 at a fixed rate of 1.95583 leva per EUR. The overview details changeover arrangements, including dual cash circulation until the end of January 2026 and free banknote exchange for six months. It addresses inflation concerns, citing other countries' experiences to dismiss fears of post-accession price increases.