Exchange rate BGN - Bulgarian lev
The Bulgarian lev has been the official currency in Bulgaria since 1881. One lev divides into one hundred stotinki.
Bulgarian lev exchange rate - chart
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The Bulgarian lev (BGN) is the official monetary unit of Bulgaria. In addition to the international symbol BGN, it is also denoted by the abbreviation "лв". The currency is named after the predatory animals that once inhabited Bulgarian territory.
The Bulgarian lev - where is it used?
The Bulgarian lev is the currency solely used in Bulgaria. When going to this country, e.g. on vacation, it is good to check the lev exchange rate. In the old Bulgarian, the name of the currency implies "lion", and in the modern language, it means "luv". For a brief moment, BGN was also the official currency of Independent Macedonia, a puppet state founded in 1944 by the Germans. However, this was a fleeting episode for the currency, lasting only a few months.
The history of the Bulgarian lev
The Bulgarian lev (BGN) name is derived from the Dutch thalers, also known as lion's thalers. They were used in many German and Italian cities, from where they made their way to Bulgaria, Romania and Moldova, sparking the names of the currencies we know today. The Bulgarian lev was officially introduced into circulation in 1881. At that time, the lev exchange rate was closely pegged to the French franc. The currency was initially denominated in gold and silver and later exclusively in gold. During World War II, the lev's exchange rate was rigidly pegged to the Reichsmark and from September 1944 to the Russian ruble. Since 1945, on the other hand, the Bulgarian lev was dependent on the exchange rate of the US dollar for several years. Following 1943, only banknotes were in circulation, no coins. This pattern continued until currency reform from 1952, when the first denomination took place, and a new lev exchange rate was defined. Old money was exchanged in a ratio of 100:1 for new. The second denomination, this time at a rate of 10:1, occurred in 1962. When communism collapsed, the Bulgarian lev struggled with high inflation. Therefore, the lev exchange rate was pegged tightly to the German mark. The last denomination occurred in 1999. 1000 old leva were exchanged for 1 new lev. At the same time, BGN was still pegged to the German mark, this time at a rate of 1.00. Today the lev exchange rate is firmly pegged to the euro.
The Bulgarian lev - key information
The Bulgarian lev is divided into 100 stotinki, which means hundredth in the local language. In circulation are coins of 1, 2, 5, 10, 20 and 50 stotinki, as well as 1 and 2 leva. The stotinki on their reverse bear the image of the Madara horseman. The leva depict St. John of Rila and Saint Paisius of Hilendar. Banknotes are available in denominations of 1, 2, 5, 10, 20, 50 and 100 leva. The 1 leva banknote has already been withdrawn from circulation and is no longer legal tender. However, we can still exchange it for a coin of the same value. 2 leva banknotes have a similar fate - they are no longer printed, although they are still accepted. BGN banknotes depict distinguished Bulgarian personalities, with objects or monuments related to them on the obverse, such as paintings or poems.
Check the Bulgarian lev exchange rate
The Bulgarian lev (BGN) is not a very popular currency. In Europe, the interest in the lev's exchange rate, i.e. the BGN/EUR pair, increases during the holiday season when tourists are preparing to travel. Since the Bulgarian lev is pegged to the euro, the BGN/EUR exchange rate remains relatively stable. However, before going on vacation, it is worth checking the real exchange rate of the BGN/EUR pair to quickly convert the prices of various goods and services on the spot.