On 1 January 2026, the euro entered circulation in Bulgaria, making the country the 21st member of the euro area. The conversion rate is fixed at 1.95583 Bulgarian lev per euro. Bulgaria’s central bank, the Bulgarian National Bank (BNB), became part of the Eurosystem, and its governor gained a seat on the ECB Governing Council. The BNB also achieved full membership in the Single Supervisory Mechanism, allowing the ECB to supervise four major and 17 smaller Bulgarian banks, including licensing and ownership reviews. The BNB paid its remaining capital contribution to the ECB and transferred its foreign reserve assets. Bulgarian counterparties can now participate in ECB open‑market operations, and the country has joined TARGET services for payments, securities and collateral.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
https://www.ecb.europa.eu/press/pr/date/2026/html/ecb.pr260101~c830245e42.en.html
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