Bulgarian Lev: What You Should Know About the Currency in Bulgaria
Did you know that Bulgaria doesn't use the euro? Discover the history of the Bulgarian lev, the current exchange rate against the euro, and practical tips for paying while you're traveling. The lev is still the official currency of Bulgaria - find out why and how to handle it profitably.
Bulgaria and its currency. Did you know that Bulgaria does not use the euro?
Bulgaria – the land of sun, sea and ancient history. Whether you’re heading to Golden Sands, historic Plovdiv or tasting traditional banitsa in a mountain village, there’s one thing you should know in advance – Bulgaria still doesn’t use the euro. Despite being a member of the European Union, the country retains its own currency – the Bulgarian Lev (BGN).
The lev is firmly pegged to the euro at a rate of 1 EUR = 1.96 BGN.
A brief history of the Bulgarian Lev
1. The First Lion (1881–1952)
It was introduced after the liberation of Bulgaria from the Ottoman Empire.
It was originally equivalent to the French franc and was backed by gold.
It has gone through several devaluations due to wars and crises.
2. The Second Lion (1952–1962)
Reform 1952: 1 new lion = 100 old.
Linked to the Soviet ruble and later to the dollar.
The period of planned economy.
3. The Third Lion (1962–1999)
Another reform: 1 new lev = 10 old ones.
Stable until the early 1990s, then hyperinflation.
4. The Fourth Lion (1999–present)
1 new lev (BGN) = 1000 old levs.
Fixedly pegged to the euro at the rate of 1 EUR = 1.95583 BGN.
Since 2020, Bulgaria has been part of ERM II.
When traveling to Bulgaria, don't forget to exchange money.
Although euros are often accepted in tourist areas, the conversion rate is often less favorable than the official rate, so it is always better to pay in leva or by card if possible.
Modern terminals in most places allow convenient card payments - whether in restaurants, shops or gas stations.