Bulgaria officially joined the euro zone: the lion went down in history
2 January 10:23
On January 1, 2026, Bulgaria officially became part of the eurozone, replacing the Bulgarian lev with the euro. The decision completed the country’s almost 19-year journey in the European Union towards full currency integration. This is reported by "Komersant Ukrainian" with reference to Reuters.
To mark the transition, celebrations were held in Sofia: new Bulgarian euro coins were presented on the facade of the central bank, and the event was marked with a fireworks display.
From now on, the lion is no longer used as a means of payment.
What does the transition to the euro mean?
The introduction of the euro gives Bulgaria a seat in the governing structures of the European Central Bank, which allows the country to participate in shaping the eurozone’s monetary policy and indirectly influence the exchange rate of the common currency.
In addition, the number of euro users has increased by almost 7 million, and the total audience of the common currency has exceeded 350 million. Earlier, in 2023, Croatia joined the euro area.
Exchange rate and transition period
BGN is exchanged for euros at a fixed rate of approximately 2:1. The banking system and business prepared for the transition in advance to minimize risks for consumers and the market.
Bulgarian society has mixed reactions. Some citizens consider the transition to be a positive step, as there will be no need to exchange currencies when traveling in Europe, and payments for businesses and investors will be simplified. At the same time, others fear a rise in prices after the currency change.
These fears are compounded by domestic political instability: in late December, the government resigned amid protests against a proposed tax increase. Nevertheless, the currency transition went ahead as planned.
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