Bulgarian Lev

BGN

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Pegged to EUR
Currency Reference Centre

Available Currency Pairs

EURBGN

View EUR

Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: High
FX FORWARD
Maximum maturity: 24 months
Liquidity: Medium

Did You Know?

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Monetary policy

  • The Central Bank of the Republic of Bulgaria (CBRB) is the central bank of Bulgaria: its main objective is to maintain price stability and supervise the banks present in the country.
  • Price fixing method: the exchange rate regime has been described as fixed against the euro since the creation of the single currency. To achieve this, the CBRB uses two levers, namely monetary policy and specific targeted interventions on the foreign exchange market.
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Features and highlights

  • The central rate EUR/BGN is set at 1.9558 by the CBRB, and must remain within a relatively narrow fluctuation band around this level.
  • Although Bulgaria does not plan to adopt the single currency in the medium term, it has nevertheless joined the ESCB (European System of Central Banks) and uses the same payment practices as in the eurozone.
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Expert opinion

  • Due to the stability of the BGN against the EUR, market participants tend to hedge little of their foreign exchange transactions in EUR/BGN.
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Regulations

There are no specific restrictions on the purchase and sale of BGN.

Important Information

PAYMENTS IN BGN TO BULGARIA

The IBAN format is mandatory. Payment instructions must contain:

  • The SWIFT Code of the beneficiary bank.
  • The full name, address and IBAN of the beneficiary.

Keep In Mind

Public Holidays

New Year's Day 1 Jan
Orthodox Easter 8 Apr
Labour Day 1 May
Unification Day 6 Sep
National Holiday 3 Mar
Orthodox Easter Monday 9 Apr
St George’s Day 6 May
Independence Day 22 Sep

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

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