Exchange of leva for euro The big changes with the left in Bulgaria will begin 6 months before its entry into the eurozone – from July 1, 2025. From now until the expiry of 6 months after the adoption of the single European currency, which is expected to happen on January 1, 2026. A significant reduction in leva banknotes in circulation can be expected, the central bank explained. Today, the National Bank of Bulgaria published new questions and answers related to Bulgaria's accession to the Eurozone. The bank's experts comment on the most relevant topics related to the introduction of the euro in Bulgaria. One of them is what changes can be expected in the dynamics of money in circulation? Six months to a year before Bulgaria's accession to the eurozone, a significant reduction in lev banknotes in circulation can be expected as a result of their transformation into deposits in the banking system in order to more easily convert into euros, BNB reports. In Croatia, six months before joining the eurozone (after the announcement of the decision of the Council of the European Union of July 6, 2022 on the transition of Croatia to the euro from January 1, 2023), there was a decrease in banknotes in circulation by 42.4%. The experience of Estonia, Latvia and Lithuania also shows that six months to a year before joining the eurozone, the volume of local currency banknotes in circulation decreased by 40-50%. The dynamics of money circulation (Euro banknotes and coins) after Bulgaria's accession to the Eurozone will depend mainly on their demand for transaction purposes and on the preferences of economic agents (households, companies) to keep cash or keep funds in the form of deposits in the banking system.
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