Updated information about Bulgaria's adoption of the euro as its official currency

Several news about Bulgaria's adoption of the euro as its official currency have been published by us in recent months. Although we provided some potential timeframes and standards, there are yet no official rules, laws, or dates. Also, there are words that the adoption of the euro will be postponed and will be applied from 2025.

However, some information is known. The website for the euro will be introduced, and it will start operating at the end of March 2023. It will be the main institutional channel for informing citizens and businesses about the introduction of the euro in Bulgaria. This has been published as an answer from the Bulgarian National Bank.

It will publish information about:

• Useful practical information, including time periods and methods for currency exchange and dual pricing, and changes for citizens and businesses;
• Appearance and security features of euro banknotes and coins;
• Documents regulating the process of introducing the euro: the National Plan, the Law on the Introduction of the euro, guidelines and recommendations related to the adoption of the euro in various sectors,
• Good practices and experiences of other countries that introduced the euro, etc.

Also, information will also be available on a dedicated free phone line, which will be revealed later. A mobile application is also planned to be developed. Its function will be to inform and provide an opportunity to calculate the value of goods and services from BGN to EUR and vice versa.

As a reminder, during the first month from the date of the introduction of the unified European currency in the Republic of Bulgaria, the lev and the euro will be in circulation at the same time, with both currencies having the status of legal tender. After this one month, the euro will remain the only legal currency for payment in Bulgaria. But, we are still waiting for official laws, regulations, deadlines, and dates.