With its rich history, stunning landscapes, and vibrant culture, Bulgaria is a fascinating destination in Eastern Europe. Whether you’re visiting for a holiday or sending money to loved ones, it’s helpful to know about the Bulgarian lev (BGN), the country’s national currency.
Here’s everything you need to know about the lev, its history, denominations, and some fascinating facts about Bulgaria’s unique currency.
Bulgarian Currency Denominations
The Bulgarian lev is abbreviated as BGN, with the symbol лв. It is subdivided into 100 stotinki. The lev is issued by the Bulgarian National Bank and is available in both coins and banknotes.
Coins
- 1, 2, 5, 10, 20, and 50 stotinki
- 1 and 2 leva
Banknotes
- 1, 2, 5, 10, 20, 50, and 100 leva
Bulgarian banknotes are known for their vibrant colours and historical imagery, while stotinki coins feature the Madara Rider, a UNESCO World Heritage Site.
Five Interesting Facts About the Bulgarian Lev
1. The Word “Lev” Symbolises Strength
The word “lev” translates to “lion” in an older form of the Bulgarian language. Lions are a powerful symbol of courage in Bulgarian culture and can be seen on monuments across the country, such as the Lion’s Bridge and the Monument to the Unknown Soldier in Sofia.
2. Famous Bulgarians Adorn the Currency
The banknotes and coins showcase key figures from Bulgaria’s history, including:
- 1 lev: Saint John of Rila, patron saint of Bulgaria.
- 2 leva: Saint Paisius of Hilendar, a pivotal figure in Bulgaria’s National Revival.
- 10 leva: Dr. Petar Beron, the creator of Bulgaria’s first modern textbook.
- 100 leva: Aleko Konstantinov, a renowned 19th-century writer.
3. Stotinki Coins Celebrate a World Heritage Site
The Madara Rider carving, featured on all stotinki coins, is an eighth-century cliff relief depicting a knight on horseback defeating a lion. Located in Madara, Bulgaria, it was created during the First Bulgarian Empire and remains a symbol of the country’s early history.
Anti-Counterfeiting Measures Ensure Security
Bulgarian banknotes feature cutting-edge security features, including colour-changing stripes, embedded fibres, and 3D watermarks. These measures make counterfeit currency rare in Bulgaria.
The Lev Will Soon Be Replaced by the Euro
As a member of the European Union since 2007, Bulgaria is transitioning to the euro. The euro is expected to become the official currency of Bulgaria on 1 January 2024, replacing the lev.
A Brief History of the Bulgarian Lev
The lev was introduced in the late 19th century after Bulgaria gained independence from the Ottoman Empire. Despite political upheavals, including two World Wars and Soviet influence, the lev has remained Bulgaria’s currency. The current version was introduced in 1995, with updated designs and security features.
Using Money in Bulgaria
Payment Methods
Cash is widely used in Bulgaria, particularly in smaller towns and for local markets. Credit cards, including Visa and Mastercard, are accepted in larger cities and tourist areas, but having cash on hand is recommended for smaller transactions.
Exchange Rates
The lev is pegged to the euro at a rate of 1 EUR = 1.95583 BGN. This fixed exchange rate simplifies conversions for those exchanging euros. If you’re travelling from the UK, you can exchange GBP to BGN at banks or currency exchange offices in Bulgaria.
Sending Money to Bulgaria
If you need to send money to Bulgaria, international transfer services like Remitly provide quick and secure options. Transfers can be sent directly to bank accounts or for cash pickup.
