Exchanging Bulgarian leva for euros ahead of schedule is currently causing losses for many citizens. A leading exchange bureau is offering a rate of 1.972 leva per euro, which translates into an 8-leva loss for every 1,000 leva exchanged. Financial expert Deyan Vassilev told the Bulgarian National Radio that this loss arises when people rush to convert their money now, instead of waiting until January 1, when the exchange will be possible at the official Bulgarian National Bank (BNB) rate of 1.95583 in all banks and post offices, free of charge. After the start of 2026, all money in bank accounts will be converted automatically.
Vassilev explained that the current rush is largely psychological. Many people doubt that the official exchange rate will hold or fear that leva will lose value, which he described as “psychosis.” He also humorously characterized the panicked conversions as a kind of “vote for the euro,” reflecting citizens’ eagerness to move away from the national currency.
The expert emphasized that after January 1, individuals can exchange leva to euros at the fixed rate of 1.95583 without incurring any fees. Banks will allow up to 30,000 leva in cash to be exchanged without prior notice. For those holding larger amounts, Vassilev suggested splitting the exchange into multiple transactions; for example, someone with 100,000 leva could convert it in ten separate increments of 10,000 leva each to avoid drawing attention.