Euro-lev exchange rate set as Bulgaria becomes Eurozone’s 21st member state

Brussels – Bulgaria moves forward with the euro: the Economic and Financial Affairs Council gave the final approval to the introduction of the EU single currency in the eastern state, setting the conversion rate at 1 euro for 1.95583 lev. It was the last missing step to complete the legislative process and allow the new enlargement of the eurozone, three years after the last time. As of 1 January 2026, there will thus be 21 EU Member States in which the single currency will circulate.

Well done! Bulgaria will become the 21st member of the Eurozone on 1 January 2026. The Council gave its unanimous approval today. #Eurozone #EU pic.twitter.com/VqnwZ4B0nh

— Bulgaria in the EU (@BGPermRepEU) July 8, 2025

The green light granted in Brussels by the Ecofin Council comes with the approval by the European Parliament plenary session in Strasbourg. With 531 votes in favor, 69 against, and 79 abstentions, the European Parliament approved the report on the enlargement of the eurozone. ​

Bulgarian Prime Minister, Rosen Zhelyazkov, is satisfied: “We thank all the institutions, partners, and all those who have made this historic moment possible.” In the face of domestic concerns about possible price increases resulting from the currency changeover, Zhelyazkov assures that “the government remains committed to ensuring a smooth and effective transition to the euro, in the interests of all citizens.”