Currency - Bulgarian currency facts, currency transfer information and a currency convertor.
The unit of currency in Bulgaria is the lev, divided into 100 stotinki. The
Bulgarian National Bank is the bank of issue and handles government funds and
On the 5th of July, 1999, the Bulgarian National Bank acted on the previously
announced re-denomination of the Bulgarian Lev by introducing new banknotes and
coins. The Bulgarian Council of Ministers together with the National Assembly
passed and enacted a package of laws and decrees outlining and regulating the
re-denomination well before the 5th of July, 1999. Starting at 12:00 am on
Monday, the 5th of July, 1999, the Bulgarian lev was substituted by a new lev in
a ratio of 1,000:1. That is to say, as of that date 1,000 old leva equaled 1 new
lev (equal to 1 Deutsche Mark, 0.51 Euro or US$ 0.55). The re-denomination went
into effect for all prices in leva - goods, services, bank accounts, and savings
bonds. Until December 31st, 1999, all prices were stated both in new and
old leva; after that date, all prices were stated in new leva only. The
entire process was performed in order to facilitate all payments, as well as all
accounting and exchange operations.
A 5 Leva Bank Note
Simultaneously with the re-denomination, the Bulgarian National Bank began to
circulate new banknotes and coins. Beginning on July 5th, 1999, there were 6 new
coins and 6 new banknotes in circulation. Until December 31st, 1999, all
individuals and sales persons were obliged to accept both old and new
banknotes and coins; after that date, the old currency could only be
exchanged for new one at a branch of the BNB.
The Bulgarian Lev is pegged to the EURO and Euros are therefore equally
accepted across the country.
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