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
state-owned enterprises.
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.
Currency Transfer
If you haven't transferred money abroad before, it can be a bit daunting. Most high street banks will transfer the money for you, however the bank rates are not very competitive and it can make quite a difference when transferring larger amounts.
We have completed some research on your behalf and found baydonhill to be extremely competitive and very professional. Unlike the banks they offer a commercial rate and on previous transactions have saved buyers up to £500. They offer excellent rates and a highly personalized service. They will track your money for you and do all the paperwork, taking the worry and hassle out of the transaction.
If you should wish to use this service please contact Baydonhill
on tel: 0207 594 0584 fax: 0207 584 4404
enquiries@baydonhill.com
When calling please quote the My Bulgaria Registration Code: RPI 0 - My Bulgaria Ltd
Click on the link below to go directly to their web site and read about their services.
www.baydonhill.com
| Copyright 2004 My Bulgaria All Right Reserved. | Published on: 2004-01-15 (8774 reads) |
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