Bulgaria

BGN - Bulgarian Lev
Convertible: Yes - Transferable: Yes - Exchange rate regime: Pegged to EUR
Bulgarian Lev

Available currency pairs

Types of transaction

FX Spot FX Forward
Delivery date: T+2 Maximum maturity: 24 months
Liquidity: Good Liquidity: Good

EUR/BGN parity: liquidity schedules (GMT)

EUR/BGN parity: liquidity schedules (GMT)

Did you know?

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.

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 Euro Zone.

Regulations

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

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.

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.
Public Holidays 2018 (subject to change)
New Year’s Day January 1st Labour Day May 1st
National Holiday March 3rd St George's Day May 6th
Orthodox Easter April 8th Unification Day September 6th
Orthodox Easter Monday April 9th Independance Day Septembre 22nd