Bulgaria adopts euro as of 1 January 2026

As of 1 January 2026, Bulgaria has officially adopted euro as its national currency, becoming the 21st Member State of the European Union to join the euro area. With Bulgaria’s accession, more than 357 million EU citizens now share the single currency, further strengthening the EU’s economic and monetary integration.

Conversion rate and transitional period

The euro replaces the Bulgarian lev at a fixed and irrevocable conversion rate of EUR 1 = BGN 1.95583. During January 2026, both currencies circulate simultaneously.

Payments may be made in lev, but change is given exclusively in euros, facilitating the gradual withdrawal of the former currency.

Dual pricing in lev and euros has been mandatory since 8 August 2025 and will remain in effect until 8 August 2026.

Practical effects on customs operations with Bulgaria

The main practical effects of this change on intra-EU operations and trade with third countries include:

• Customs values, customs duties, import VAT, and penalties are now expressed directly in euro;
• Bulgarian companies no longer need to convert amounts from lev into euro, reducing the risk of currency conversion errors;
• Invoicing, customs guarantees and payments are carried out in euro, resulting in lower financial costs for operators;
• Intrastat reporting, VAT returns, and statistical declarations are now expressed in euro.

Economic impact and next steps

The global economic impact of this change can be observed as follows:

• With the adoption of the euro, Bulgaria aligns monetarily with most of its trading partners, enabling deeper integration into the Union market;
• The euro eliminates currency conversion costs and exchange rate risk, which particularly benefits exporting companies and reduces administrative costs;
• Commercial transactions with euro area partners become simpler and cheaper, with less reliance on currency hedging instruments;
• Bulgaria may become more attractive to foreign direct investment (FDI) due to the stability of the euro and a lower perceived risk:
• Bulgarian companies and the government will be able to access euro-denominated financing in euros at more competitive rates and with preferential access to ECB mechanisms.

During the first months of 2026, the Bulgarian authorities will continue to monitor the correct implementation of the currency changeover.

Further information:

• Bulgaria joins euro area from 1 January
• Council Decision (EU) 2025/1407 of 8 July 2025 on the adoption by Bulgaria of the euro on 1 January 2026
• Council Regulation (EU) 2025/1408 of 8 July 2025 amending Regulation (EC) No 974/98 as regards the introduction of the euro in Bulgaria
• Council Regulation (EU) 2025/1409: amending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Bulgaria