Bulgarian Leva (BGN)

The Bulgarian Lev (BGN) is the official currency of Bulgaria. It has been in circulation since 1881. The currency is regulated and issued by the Bulgarian National Bank, which is the central bank of the country.

The Bulgarian Lev is subdivided into 100 smaller units called stotinki. The symbol for the Lev is “лв” and it is pronounced as “lev” in Bulgarian. The currency is widely accepted and used throughout Bulgaria as a legal tender.

Banknotes in circulation include denominations of 2, 5, 10, 20, 50, and 100 Leva. There are also coins available in denominations of 1, 2, 5, 10, 20, and 50 stotinki, as well as 1 and 2 Leva.

The value of the Bulgarian Lev fluctuates in foreign exchange markets. Its exchange rate is determined by market forces and can vary against other currencies. The Bulgarian National Bank intervenes in the foreign exchange market when necessary to maintain stability in the value of the Lev.

Bulgaria’s membership in the European Union has also led to the acceptance of the Euro in some places, particularly in tourist areas. However, the official currency of the country remains the Bulgarian Lev.

The Bulgarian Lev plays a crucial role in the country’s economy. It is used for various transactions, including trade, tourism, and daily purchases. The currency’s stability and acceptance contribute to the smooth functioning of the Bulgarian economy.

In conclusion, the Bulgarian Lev (BGN) is the official currency of Bulgaria, regulated and issued by the Bulgarian National Bank. It is widely accepted and used throughout the country. The currency is available in banknotes and coins, and its value fluctuates in foreign exchange markets. The Lev is an essential component of Bulgaria’s economy and is used for various transactions within the country.