All Bulgaria Virtual Guide - Bulgarian Currency

The discussion over the formal spelling of the word euro in Bulgarian is very topical because the language is one of the EU official languages as the country became a full-fledged member of the Union as of January 1 2007. The issue was discussed as early as 1995 when the recommendations of the Institute for Bulgarian Language were accepted and it was decided that the word will be spelled with /v/. According to a regulation of the EU the name of the European currency must be identical in all EU member countries but the idiosyncrasies of the Bulgarian and Greek alphabets, which are rather different from the Latin alphabet, are to be taken into account. The discussion was renewed when the European Central Bank started insisting the word be spelled and pronounced with a "u" instead of a "v".
However, according to the Bulgarian linguists from the think-tank the word has already been adopted for usage in the Bulgarian language and is pronounced with the sound "v" and cannot be thrown out of the dictionaries any more.
The introduction of the transliterated from English second form of the word euro will leave two unnecessary doublet forms in Bulgarian and will bring about controversies as to the usage both in common language and in the financial jargon.

The official emblem of Bulgaria - shown above - was adopted by the 38th Parliament in the year 1997.

CROWN - Honor, Nobility, Power
SHIELD - Protection
LION - Greatness, Strength, Bravery
OAK TREE - Toughness, Protection, Longevity

The Coat of Arms of the Republic of Bulgaria is a state symbol of the sovereignty and independence of the Bulgarian people and state. The Coat of Arms is a crowned rampant golden lion on a dark red background with the shape of a shield. Above the shield there is a crown modelled after the crowns of the kings of the Second Bulgarian kingdom, with five crosses and an additional cross on top. Two crowned rampant golden lions hold the shield from both sides, facing it. They stand upon two crossed oak branches with acorns. Under the shield, there is a white band lined with the three national colors. The band is placed across the ends of the branches and the phrase "Unity Produces Strength" is inscribed on it.

Changing Money in Bulgaria

The currency of Bulgaria is the Lev - or in the plural form, Leva. (In Bulgarian, "lev" is the old for lion.)The economy is stable and the value of the lev is tied to that of the Euro. As of June 2004, $1US was worth 1.6 Leva. Bulgaria remains a largely cash economy. Visitors should exchange cash at banks or change bureaus. Some change bureaus will charge commissions on both cash and travelers' check transactions which are either not clearly posted or posted in fine print. Beware of people on the street who offer high rates of exchange or who may ask you to make some change for them. These people are confidence tricksters who are very good at spotting non-Bulgarians and are intent on swindling the unwary traveler. Old, dirty or very worn bank notes may not accepted, and bills with "scotch tape" over any torn places will be refused.

Bulgarian Currency Description

The Bulgarian national monetary unit is the Lev (BGL), divided into 100 stotinki. On July 5, 1999, the Lev was re-denominated at a rate of 1,000 old Leva to one new Lev. Banknotes of 1, 2, 5, 10, 20 and 50 leva are in common circulation. Coins are minted in values of 1, 2, 5, 10, 20 and 50 stotinki. The Bulgarian economy operates under the auspices of a Currency Board where 1 BGN is equal to 1 DEM, and 1,95583 BGN is equal to 1 EURO; in place since 1 January 1999. Exchange facilities at daily rates are in operation at the airport, at the exchange desks of different banks and in many of the hotels. There is much additional information on this page, including a currency converter at the bottom of this page. If you have questions which remain unanswered after reading here, please post the question in Feedback.

The obverse of all coins features the Madara Horseman - a VIII century relief carved in a rock, and the text ( Bulgaria) inscribed in circumference above it. The main design on the reverse of the coin features the figure of the denomination and the year of issue - 1999. The text (stotinka) is inscribed underneath, and the twelve five-pointed stars - the symbol of the European Union - are inscribed in circumference above it.

Click here to see the face of all coins

Click here to see the reverse of all coins

Beginning September 2, 2002 the National Bank of Bulgaria issued a one Lev coin. It is believed the coin will gradually phase out the one Lev banknote that is currently in circulation. The 16 mm diameter inner part is of a white metal alloy, the outer ring of a yellow alloy and outside diameter is 24.5 mm. The edge is serrated by sectors. The coin weight is 7 grams. Artistic design is by Petar Stoykov.

The face value side of the coin features the numeral "1", the text

(lev), the year of issue - 2002 - and a graphical pattern of two crossing lines.

The reverse of the coin features an effigy of St. Ivan Rilski and the inscriptions

(St. Ivan Rilski) and

(Bulgaria).

Other Coins

A golden one lev coin has also been issued. The gold coin can be purchased for 500 Leva per unit from all branches of the Bulgarian National Bank and First Investment Bank.

A coin of five leva, on the occasion of the Christmas holidays, was placed into circulation during the month of December, 2002. This was the first Bulgarian multicolored coin. Christmas greetings are on it as well as a drawing in blue, yellow and violet of two "survakarcheta" (a Bulgarian Christmas custom, when the children visit the houses, singing songs for wealth and health for the hosts. They are called survakarcheta).The author of the project is Stefan Nenov. The coin cost seven leva; the revenues donated. The coin was officially presented on December 5th and was placed on sale in banks from December 6th, 2002.

Banknotes

All banknotes feature advanced protective measures such as transparent register ornament, watermark, microtext, security thread, holographic anti-copy element, and a relief designation for blind people.

Additional Information:

There is a change bureau at Sofia Airport and you will find numerous legitimate change bureaus operating from store fronts in the city of Plovdiv who will not charge a commission. Working hours of the banks: 9 a.m. - 4 p.m., Monday to Friday, holidays excepted. If you bring foreign currency from home into Bulgaria, be certain it is clean and untorn. No store, bank or change bureau will accept mutilated, torn or excessively dirty foreign currency. Currency exchange offices found throughout all the cities are open to 5 p.m., some working 24 hours a day.

Bulgaria observes national holidays as follows:

New Year's Day is celebrated on January 1
National Holiday (Liberation from the Turks) is celebrated on March 3
Easter (not on the same day as in Western Europe)
Labor Day is observed on May 1
St. Cyril and St. Methodius Day is celebrated on May 24 (also Education and Culture Day, Day of the Slavic Heritage)
Christmas is observed on December 25

Banks will almost always charge a commission. Be wary of anyone who approaches you on the street or on public transportation offering to "make change ". You will probably wind up with some useless currency at best. Likewise, do not make "a show" out of carrying cash in public ... read our "Traveler's Tips" section and also be sure you read the Consular Information Sheet on the web site of the United States Consulate at http://www.travel.state.gov/travel/cis_pa_tw/cis/cis_1074.html. Bulgaria is very safe; but you must also expect any people to be VERY clever, and given the opportunity, Bulgarians are no different than anyone else; they will rise to the challenge of being more clever than someone else.

Change bureau's should always give you the exact funds as you change currency from Dollars to Leva, for example. There are a couple of important rules:

1. Examine the currency carefully! Refuse any bill which is torn, cut, taped or otherwise mutilated. Do not allow yourself to become intimidated or rushed.

2. Be careful of this scenario:
You give the attendant two $20 bills. The attendant fumbles with a stack of Leva and offers that if you give him, for example, 3 Leva, he would give you an even amount, for example 80 Leva. If the exchange rate is 2.17, you give the attendant $40 plus 3 Leva, he should give you 90 Leva, not 80. The attendant has just made 10 Leva for his pocket.

Lesson: The change bureau's are great places for currency conversion, but don't "make change" there!

The "yellow coins" (1, 2 and 5 stotinka) are generally scorned by the Bulgarian people, and if you are not careful, at the end of a day shopping, you can find yourself weighted down by excessive coins. Do not be afraid to use the coins to pay for an individual coffee, matches, a piece of candy or chewing gum, but the advise is to never leave them as a "tip" for a waiter or waitress ...they are likely to be thrown back at you. Practically every bank in any city has an ATM machine in the lobby; there are also ATM machines inside the larger stores. See our "Traveler's Tips" section for a large section of information on Credit Cards, ATM's, etc.

International dialing code for Bulgaria +359; the Sofia city code is 2, Plovdiv is 32 . Coin and card phones are available both for local and long distance calls at hotels, phone boxes and Post Offices. Direct telephone communication from Bulgaria to all countries is possible from Bulgarian Telecommunication Company phone booths or with phonecards, but not all operators will speak a foreign language. Carry a telephone calling card with you from your long distance carrier. Be certain you know their access code in the countries you will visit, including Bulgaria.

Sprint Dial 00-800-1010
AT&T Dial 00-800-0010
MCI Dial 00-800-0001

Telephone calls, telegram and telefax services in the country and abroad are also offered by the Post Offices. Western Union operates in Bulgaria and is a very efficient way to get cash from the United States. There are several Western Union offices in the cities, although United Bulgarian Bank is the primary Western Union agent across all Bulgaria.

The exchange of currency is unrestricted and there is no compulsory exchange. Upon departure from the country any unused Bulgarian currency may be changed back into the respective national currency at the border.

Credit cards - American Express, Diners Club, BankAmericard, Visa, Access, Eurocard, Mastercard and Carte Blanche, among others, are accepted in Bulgaria. Many times (but NOT ALL) they can be used for the payment of standard services: hotel accommodation, restaurants, night spots, shopping, car rentals, plane tickets, etc. Taxi's do not normally accept credit cards. Detailed information for credit cards wil be found on our Tips page.

Electrical power (220 V.A.C., 50 Hz) is supplied through a 2-pin connecting plug which is similar to that used in most European countries but it is different from those used in the US, UK and Japan.

DHL is a reliable international express freight carrier in Bulgaria. They have an express center inside The Plovdiv Fair administration building, and the main Plovdiv office is at 9 Svoboda Boulevard. The staff is extremely courteous and speaks fluent English.

Bulgaria abides by the East-European time, 2 hours ahead of universal time (the time of Greenwich Observatory in Great Britain). Daylight saving time is used from 0 hours on the last Sunday of March till 24 hours on the last Saturday of October.

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