Bulgaria Officially Joins the Eurozone

On 1 January 2026, the euro replaced the Bulgarian lev, making Bulgaria the 21st of European Union’s 27 member states to join the eurozone, following Croatia’s entry in 2023. This means 358 million Europeans now use the euro as their currency.

Joining the euro area requires strict economic conditions, such as low inflation and a stable exchange rate with the euro. Each new member must also be proposed by the European Commission, endorsed by the European Parliament, and approved by EU countries. While the Bulgarian lev had been pegged to the euro since 1999, the formal process to join started in 2020. Its formal accession was approved last summer.

The euro has now replaced the lev, which remains in circulation throughout January 2026. Old banknotes and coins can still be exchanged at banks until the end of June 2026, and at the Bulgarian National Bank indefinitely and free of charge, providing reassurance to citizens and businesses. Individuals exchanging up to €5,000 need only show an ID, while larger amounts require a declaration.