Bulgaria officially adopted the euro as its currency on January 1, 2026, becoming the 21st member of the Eurozone. The move marks the culmination of a commitment made upon entering the European Union in 2007 to eventually replace the Bulgarian lev with the euro.
The transition follows a positive assessment of Bulgaria’s readiness for Eurozone membership by the European Commission and the European Central Bank in June 2025, concluding that the country met the Maastricht criteria for convergence. The European Parliament subsequently endorsed Bulgaria’s accession on July 8, 2025, and the Council of the European Union adopted the final legislative acts required for the country’s inclusion.
For a period lasting until the finish of January 2026, both the euro and the lev circulated concurrently, facilitating a smooth transition for citizens and businesses. The exchange rate had been fixed at 1.95583 Bulgarian leva to one euro following a lev redenomination in 1999. Prior to the euro adoption, the lev had been pegged to the German Mark and, from July 10, 2020, participated in the Exchange Rate Mechanism II (ERM II).
The adoption of the euro brings the total number of euro users across Europe to 350 million people. In Sofia, the change was celebrated, signifying a new phase of economic integration. Antonia Tsvetkova, a Sofia-based jeweler, expressed optimism, stating, “I have very positive hopes towards the euro. We will benefit from this, especially anyone who travels often will not have any more problems with currency exchange.”
The move to the euro occurred amidst a period of political instability in Bulgaria, following the resignation of the government in the preceding month due to widespread protests over planned tax increases. Public opinion regarding the euro adoption remains divided, according to recent polls.
