Bulgaria to Adopt the Euro On 1 January 2026 as ECB Confirms Current Lev-Euro Fixation and Ongoing Supervision
SDG 17: Partnerships for the Goals
Institutions: Reserve Bank of India; Ministry of Finance
The Council of the European Union has formally approved Bulgariaβs accession to the euro area, effective 1 January 2026, confirming the central rate under the Exchange Rate Mechanism (ERM II) at 1.95583 lev per euro.
The European Central Bank and the Bulgarian National Bank will continue monitoring the lev-euro exchange rate in the run-up to accession.
With the close cooperation framework now in place, the ECB has been supervising key Bulgarian banking institutions directly - since October 2020 overseeing four significant and 13 less-significant domestic banks.
Relevant question for policy stakeholders: Can India prepare for potential future regional monetary cooperation - drawing lessons from the ECBβs structured monitoring, conversion rate fixation, and phased supervisory integration seen in Bulgaria's euro adoption?
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https://www.ecb.europa.eu//press/pr/date/2025/html/ecb.pr250708~b9676a9fa8.en.html