Status
Bulgaria is set to join the euro area on 1 January 2026. The lev has been part of the exchange rate mechanism (ERM II) since 10 July 2020.
Adoption of the euro
In its convergence report of 4 June 2025, the European Commission has assessed that Bulgaria fulfilled all the criteria to join the euro area. Following the opinion of the European Central Bank, the positive vote of the European Parliament and the positive decision by the Council, Bulgaria is set to join the euro area on 1 January 2026.
Central exchange rate
As part of the ERM II, the lev observes a central rate of 1.95583 to the euro. This will become the fixed conversion rate when Bulgaria joins the euro on 1 January 2026
Institutions
- Българска народна – Balgarska narodna banka (Bulgarian National Bank, also in English)
- Министерство на финансите (Ministry of Finance of the Republic of Bulgaria, also in English)
- Government of the Republic of Bulgaria (also in English)