Note:
While Bulgaria has been a full member of the European Union since January 1, 2007, joining the euro area is a separate and more advanced stage of integration. EU membership grants access to the single market, political institutions, and common policies. However, adopting the euro as a national currency requires meeting strict economic criteria—such as price stability, sound public finances, exchange rate alignment, and long-term interest rate convergence—under the Maastricht Treaty. Bulgaria’s upcoming accession to the euro area reflects its successful alignment with these benchmarks and marks a significant deepening of its participation in the EU’s economic and monetary union.
In exactly 99 days, Bulgaria will officially adopt the euro as its national currency, becoming the 21st member of the euro area on January 1, 2026. This milestone follows the European Council’s formal approval and the European Central Bank’s confirmation that Bulgaria has met all convergence criteria, including inflation control, fiscal discipline, and currency stability.
While Bulgaria has been a full member of the European Union since January 1, 2007, joining the euro area represents a deeper level of economic integration. The transition is expected to enhance financial stability, reduce transaction costs, and improve access to European capital markets for Bulgarian citizens and businesses.
The Bulgarian lev will be converted at a fixed rate of 1.95583 per euro, aligning with its long-standing peg under the Exchange Rate Mechanism II (ERM II), which Bulgaria joined in 2020.
Authorities are currently preparing for the currency switch, including public education campaigns and technical adjustments across banking and retail sectors. The move is widely seen as a vote of confidence in Bulgaria’s economic reforms and its commitment to EU fiscal standards.
Sources:
European Central Bank – Bulgaria to join euro area on 1 January 2026
RTÉ – ECB gives Bulgaria green light to adopt euro next year
EU Parliament Hq, Strasburg Picture by Frederick Florin, AFP via Getty Images
