Key Takeaways: Bulgaria will officially adopt the euro on January 1, 2026, leaving only six EU countries with their own currencies. This follows its recent entry into the Schengen Area, deepening its integration into the European project. The move will simplify travel and trade for the country's 6.7 million people.
On New Year's Day 2026, Bulgaria will turn a historic page, retiring its national currency, the lev, and welcoming the euro. This transition will make it the 21st member of the eurozone, a significant milestone nearly two decades after joining the EU in 2007 and following its recent accession to the Schengen Area in March 2024.
For travelers and expats, this means one less currency to worry about when crossing borders within the EU. The move streamlines financial transactions and price comparisons, further eroding the practical barriers within the bloc.
What the Euro Adoption Means for Bulgaria
The switch is a cornerstone of Bulgaria's political and economic integration into Europe. It follows a mandatory two-year period in the Exchange Rate Mechanism (ERM II), where the lev's value was pegged to the euro to ensure stability.
Adopting the euro offers tangible benefits:
- Simplified travel: No more currency exchange for trips to and from other eurozone countries.
- Price transparency: Easier comparison of costs across borders.
- Trade facilitation: Reduced transaction costs and exchange rate risks for businesses.
This step solidifies Bulgaria's position within the core European structures, alongside its Schengen membership which already facilitates passport-free travel.
The Remaining EU Currency Holdouts
Bulgaria's adoption will leave just six of the 27 EU member states outside the eurozone:
- Czech Republic
- Denmark
- Hungary
- Poland
- Romania
- Sweden
Note: Denmark has a formal opt-out from the euro, meaning it is not legally required to join. The other five are theoretically obligated to adopt the euro once they meet the strict economic convergence criteria.
For now, travelers to these countries must still navigate local currencies like the Czech koruna, Polish złoty, and Swedish krona.
A Brief History of the Eurozone
The euro, managed by the European Central Bank, was launched as an accounting currency in 1999. Physical notes and coins entered circulation in 2002, replacing national currencies like the French franc and German mark.
The eurozone has expanded gradually:
- 1999: 11 founding members, including France, Germany, and Italy.
- 2001: Greece joined.
- 2007-2015: Eastern and Central European enlargements (Slovenia, Slovakia, Baltic states).
- 2023: Croatia became the 20th member.
- 2026: Bulgaria is set to become the 21st.
Today, over 350 million people use the euro daily, making it the world's second-most important reserve currency.
Practical Implications for Travelers
The change will be most felt by those visiting Bulgaria. During a transition period, prices will likely be displayed in both lev and euro to help consumers adjust. Old lev banknotes and coins will be exchanged for euros at a fixed conversion rate.
For EU citizens, it's another step towards a truly seamless internal market, where the freedom of movement is complemented by a unified currency. It underscores the deep interconnection between Schengen's border-free travel and the Eurozone's monetary union in shaping the modern European experience.