Bulgaria Adopts Euro as Its Official Currency
- Bulgaria joined the eurozone and adopted the euro as its official currency on New Year’s Day, becoming the 21st member of the euro area.
- To ensure a smooth transition, the Bulgarian lev will remain in circulation alongside the euro throughout January. From February 1, the euro will become the country’s sole legal tender.
- Accession to the eurozone has been a key priority for the Bulgarian government since the country joined the European Union in 2007.
- The eurozone was established with the official launch of the euro on January 1, 1999, in 11 countries, including France, Germany, and Austria.
- Currently, six of the EU’s 27 member countries have not yet adopted the euro:
- Sweden
- Poland
- Czech Republic
- Hungary
- Romania
- Denmark
- The euro was first rolled out in 12 countries on January 1, 2002. Croatia was the latest to join, in 2023. Bulgaria’s accession will bring the number of Europeans using the euro to more than 350 million.
- Key Dates:
- January 1, 1999: The euro’s official launch as an accounting currency in 11 EU countries (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain).
- January 1, 2002: Euro banknotes and coins first circulated, replacing national currencies in the initial 12 countries (including Greece, which joined in 2001).
- March 1, 2002: National currencies ceased to be legal tender in the euro area.
- 2007-2015: Slovenia, Cyprus, Malta, Slovakia, Estonia, Latvia, and Lithuania joined the euro area.
- 2023: Croatia adopted the euro.
- January 1, 2026: Bulgaria joined the euro area, becoming the 21st member.
- This update is part of Current events of International Importance