Bulgaria, a picturesque country nestled in Eastern Europe, is known for its rich history, stunning landscapes, and vibrant culture. If you’re planning a trip to Bulgaria, it’s essential to familiarize yourself with the local currency, the Bulgarian lev. In this article, we will provide an overview of the lev and offer practical tips and information on currency exchange in Bulgaria.
Bulgarian Currency: An Overview of the Lev
The Bulgarian lev (BGN) is the official currency of Bulgaria. It has been in circulation since 1881, making it one of the oldest currencies in Europe. The lev is divided into 100 stotinki, and its symbol is лв. Banknotes come in denominations of 2, 5, 10, 20, 50, and 100 leva, while coins are available in 1, 2, 5, 10, 20, and 50 stotinki, as well as 1 and 2 leva.
The lev is a stable currency, and its value is fixed to the euro at a rate of 1.95583 BGN to 1 EUR. This fixed exchange rate has been in place since Bulgaria joined the European Union in 2007. While the euro is widely accepted in some establishments, especially in tourist areas, it is still advisable to carry lev for smaller transactions and when visiting more remote regions.
Currency Exchange: Practical Tips and Information
Currency exchange in Bulgaria is widely available in banks, exchange offices, and hotels. Banks usually offer competitive rates, but they often have limited opening hours, especially on weekends. Exchange offices, known as "kurs" in Bulgarian, are also a popular choice and can be found throughout cities and tourist areas. It’s advisable to check the exchange rates and compare them before making any transactions.
When exchanging currency, it’s important to be cautious and avoid unofficial exchange booths that may offer tempting rates but might be involved in fraudulent activities. Look for reputable exchange offices or banks to ensure a secure and fair transaction. Additionally, it’s a good idea to carry a small amount of cash in case you encounter places that don’t accept credit cards or have limited card payment options.
Now that you have a better understanding of the Bulgarian lev and currency exchange in Bulgaria, you can confidently navigate financial transactions during your visit. Remember to research current exchange rates, choose reputable exchange offices, and carry a mix of cash and cards to ensure a smooth experience. Enjoy your time exploring the wonders of Bulgaria while being well-prepared with the local currency.