Bulgaria and the euro

Bulgaria plans to adopt the euro and become the 21st member state of the eurozone. The Bulgarian lev has been on the currency board since 1997 through a fixed exchange rate of the lev against the Deutsche Mark and the euro. Bulgaria's target date for introduction of the euro is 1 January 2025, which would make the euro only the second national currency of the country since the lev was introduced over 140 years ago. The official exchange rate is 1.95583 lev for 1 euro.