Postbank

General Information

Bulgaria’s path toward joining the eurozone began even before the country officially became a member of the European Union. Like every EU member state, Bulgaria is committed to adopting the euro, but this does not happen automatically. The introduction of the single European currency is a process that goes through several stages and can take years. The goal of this transition is to align the living standards and economic indicators of member states as closely as possible, ensuring that the economies of all eurozone countries develop at a similar pace.

Through the currency board, Bulgaria has been linked to the euro since the creation of the single European currency—in fact, since 1999, the Bulgarian lev has been pegged to the euro at a fixed exchange rate that has never changed. The National Plan for the Introduction of the Euro and a Resolution of the National Assembly from October 2022 confirm the commitment of Bulgarian authorities to use this fixed rate for the transition to the new currency upon Bulgaria’s entry into the eurozone.

Currently, 20 out of the 27 EU member states are part of the eurozone, and the euro is the national currency of nearly 350 million Europeans.

You can learn more about the euro and the process of its adoption as a national currency on the specially created website evroto.bg, as well as on the page of the Association of Banks in Bulgaria: https://abanksb.bg/evroto/