Ahead of Bulgaria’s entry into the eurozone on January 1, 2026, the national central banks of eurozone countries have announced the launch of a program for the free exchange of Bulgarian leva into euros. The Central Bank of Cyprus is also participating in this initiative, which is particularly important for citizens and residents holding cash in Bulgarian currency.
According to official information, the exchange will take place from January 2 to March 2, 2026, at the fixed conversion rate of €1 = 1.95583 Bulgarian leva. No commission will be charged, making the process transparent and financially advantageous for the public.
Exchange Conditions and Requirements
Exchanges will be carried out in person only and upon presentation of a valid identity document. This is a mandatory requirement; without ID, the transaction will not be processed.
The maximum amount that can be exchanged per person per day is 2,000 leva.
Bulgarian coins will not be accepted—only banknotes are eligible for exchange. Accepted denominations include 5, 10, 20, 50, and 100 leva from specific series issued in different years. These banknotes will remain valid until the end of the exchange period, after which they will lose legal tender status outside Bulgaria.
When and Where the Exchange Will Take Place
The service will be available Monday to Friday, during standard working hours, from 08:30 to 13:30. In Cyprus, exchanges will be conducted through the Central Bank of Cyprus, which has confirmed its participation in the pan-European mechanism supporting Bulgaria’s transition to the euro.
Why This Matters and What to Expect Next
Bulgaria’s adoption of the euro marks an important step in its economic integration into the eurozone and is expected to strengthen trade and financial ties with other EU countries, including Cyprus. Experts note that the introduction of the single currency will simplify transactions, reduce currency risks, and enhance Bulgaria’s attractiveness to investors and tourists.
For residents of Cyprus—especially those who do business with or frequently travel to Bulgaria—this is a convenient opportunity to exchange cash holdings without additional costs and prepare for the transition to the single currency. Authorities recommend not leaving the exchange until the last moment and checking in advance that the banknotes meet the required criteria.