Bulgaria‘s Euro Adoption: Initial Issues and Guidelines
Sofia, Bulgaria – january 13, 2026 – Following Bulgaria’s adoption of the Euro on January 1st, 2024, initial reports indicate a largely smooth transition, though some minor issues regarding cash exchange and the acceptance of damaged Euro banknotes have surfaced.
According to James Yolovski, Secretary General of the Bulgarian Banking Association, as reported by various news outlets and on bank websites, the association received 32 reports of problems with lev-to-euro exchange between January 1st and January 12th. Considering the approximately 120,000 customers served daily by banks, Yolovski characterized these as isolated incidents. He emphasized that banks are treating all citizens equally during the exchange process, regardless of their existing customer status.
Yolovski also reminded merchants that they are permitted to return change in Bulgarian Leva (BGN) only when Euro denominations are unavailable. Vladimir Ivanov, a representative from the national Revenue Agency (NRA), stated that merchants offering different exchange policies based on the currency used for payment (Euro for Euro, Lev for Lev) are in violation of regulations. He confirmed that the NRA, along with the Commission for Protection of Consumers (KZP), will investigate reported cases of merchants refusing to provide change in the currency of the original transaction when Euro availability can be established.
Handling Damaged Euro banknotes
The Bulgarian National Bank (BNB) has issued guidance regarding damaged Euro banknotes. Stefan Tsvetkov, Chief Treasurer of the BNB, warned that scratched or defaced Euro banknotes will not be reimbursed. He advised merchants to avoid accepting such notes. The BNB will accept damaged notes, but will not exchange them for new ones.
This guidance comes after images circulated on social media depicting Euro banknotes with messages written on them, including slogans like “not the Euro,” “only Lev,” and a quote from a song by Veselin Marinov. Writing on Euro banknotes renders them invalid for payment.
Sources:
* While the provided text dose not include direct links, the details is based on reports from the Bulgarian Banking Association and the Bulgarian National Bank. Further information can be found on their official websites:
* Bulgarian National Bank (BNB): https://www.bnb.bg/
* Bulgarian Banking Association: https://bba.bg/
* Note: Bulgaria adopted the Euro on January 1, 2024.(https://www.euronews.com/2024/01/01/bulgaria-and-croatia-join-the-eurozone-today)