What will happen by January 1, 2026 and in the first year after the adoption of the euro?
After more than two decades of efforts and reforms, Bulgaria is on the verge of joining the eurozone. On August 7, 2024, the National Assembly adopted the Law on the Introduction of the Euro. It sets the legal and technical framework for the replacement of the leva with the single European currency. With this article, we will answer the question of what is going to happen from now on?
The law and its meaning
The Euro Adoption Act regulates the conditions for currency changeover, transition and consumer protection. It also provides for mechanisms for price control and citizen information. This law fixes the official exchange rate – 1.95583 leva = 1 euro – and imposes requirements for adaptation of the banking system, traders and the public sector.
Currency conversion rules
The official rate is not rounded or truncated before conversion. The resulting amount is rounded to the second decimal place, observing mathematical rules. If the third decimal place is less than 5, the second decimal place remains unchanged. When the third decimal place is equal to or greater than 5, the second decimal place is increased by one unit.
Example: 10 BGN: 1.95583 = 5.112 euros, i.e. according to the currency conversion rules 5.11 euros
100 BGN: 1.95583 = 51.129 euros, i.e. according to the currency conversion rules 51.13 euros
Key deadlines and milestones until 2026
February 2025 – Bulgaria submitted a request for an extraordinary report on progress on convergence.
June 4, 2025 – The European Commission and the ECB confirmed that the country meets the criteria for eurozone membership.
July 2025 – Expected decision of the EU Council setting the official date for the introduction of the euro – January 1, 2026.
August 2025 – A month after the decision to introduce the euro, the period in which the prices of goods and services will be indicated twice – in levs and euros – will begin.
In the second half of 2025, mass information campaigns, adaptation of IT systems, preparation of ATMs and commencement of deliveries of euro banknotes and coins are planned.
What happens after acceptance?
January 2026 – a month of double circulation
During the first 30 days of the new year, both the lev and the euro will be legal tender. All prices will be listed in both currencies. Every bank account and salary will be automatically converted into euros.
2026 – year of double designation
Prices will be required to be displayed in both euros and levs throughout the year, thus avoiding abuse and confusion.
Free exchange
For the first six months, citizens will be able to exchange leva banknotes and coins free of charge at commercial banks and post offices. After that, restrictions and possible fees will be introduced.
What will change for citizens and businesses?
The expectations are for lower interest rates, easier transactions in the eurozone and a reduction in exchange rate costs.
Strategic importance
Joining the eurozone marks the final stage of Bulgaria’s economic integration into the EU. With the introduction of the euro, the country joins the core of the European economy.
Bulgaria is about to take a historic step. After a long transition and many challenges, the country seems ready to join the club of countries with a common currency – not just as a symbol, but as a real part of the future of Europe.
We at LegalMasters.bg will fulfill the requirements of the law in advance and the prices on our site will be indicated in leva and euros as soon as possible.