What You Need to Know about Bulgaria’s Transition to Euro (EUR)



Modified on: Tue, 23 Dec, 2025 at 11:48 AM

TABLE OF CONTENTS


Starting January 1, 2026, Bulgaria will officially adopt the Euro (EUR) as its sole currency, replacing the Bulgarian Lev (BGN).
This is a mandatory national change, not a company initiative. From this date onward, all payroll, invoicing, and financial reporting for our Bulgarian entity must comply with the new regulations.


What Changes?

  • All payments, contracts, and social security contributions will be made in EUR.
  • Updated legal regulations and rates will apply from January 1, 2026.


Official Exchange Rate

  • 1 EUR = 1.95583 BGN (fixed rate).
  • Conversion must use the full official rate with five decimal places.
    Abbreviated forms are not allowed.


Conversion Rules

  • General Rule:
    Divide the amount in BGN by 1.95583 using all five decimals.
  • Personnel Obligations:
    Accrued but unpaid wages are rounded to the nearest euro cent.
    If the third decimal place is greater than zero, increase the second decimal by one.


Example:
Unpaid wages = BGN 1,024.51
Calculation: 1,024.51 ÷ 1.95583 = EUR 523.82364
Rounded: EUR 523.83

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