Currency in Bulgaria: exchange, import, money. What is the currency in Bulgaria?
Currency in Bulgaria
The national currency in Bulgaria is the lev. This country has been a member of the European Union since 2007, but the transition to the euro was never implemented. It was planned to switch to the euro in 2012, but for various reasons the transition was delayed. Perhaps the currency will be replaced in 2015. The currency in Bulgaria was originally pegged to the French franc, later to the German mark. And when Germany switched to the euro, the Bulgarian lev began to be quoted against the euro at a fixed rate of 1.95583 leva per euro.
History
Local money appeared in Bulgaria in 1880, a year after the appearance of the Bulgarian National Bank. As mentioned above, at that time the Bulgarian lev was pegged to the French franc, 1 lev was equal to 0.29 g of gold.
After World War II, the currency was pegged to the Soviet ruble, and there were also attempts to peg the currency to the dollar.
In the period 1952-1962. the Bulgarian lev was denominated 100 times, i.e. 100 Bulgarian leva became equal to one. After that, this procedure was repeated 2 more times, after 1962 there was a 10-fold reduction, and during a sharp and strong inflation in 1997, the currency decreased 1000 times. It was at this time that it became equal to the German mark, and was later pegged at a fixed rate to the euro.
Banknotes and coins
At the moment, there are 2, 5, 10, 50 and 100 leva banknotes in circulation. Previously, there was also a banknote equal to 1 leva, but it was replaced by a coin. In addition, there are coins in 1, 5, 10, 20 and 50 stotinks (100 stotinks = 1 lev).
What currency to take to Bulgaria
Obviously, there are exchange offices in Bulgaria, at least they are at international airports. Therefore, you can take any currency into the country, but nevertheless, it is worth giving preference to the euro. The official exchange rate fluctuates around 2 leva per euro. It is best to exchange currency in a large city, for example, in Sofia, as in the provinces and resort cities the exchange rate will be less favorable.
Exchange of another currency will also not cause difficulties, but the exchange rate will be much more unprofitable, especially for the ruble..
Import regulations
The import of currency into Bulgaria is unlimited, as in most countries. However, it should be said that when importing an amount exceeding 8 thousand leva, you must fill out a declaration. Export in general is also unlimited, but in this case there are stricter rules. When exporting from 8 to 25 thousand leva, you can also do with a declaration, and with a larger amount, you must provide a document confirming the legality of income and the absence of tax debts.