The Eurogroup has confirmed the official conversion rate for Bulgaria’s planned adoption of the euro: one euro will be exchanged for 1.95583 leva. This marks another step forward in the country’s transition to the single European currency.
Speaking after the meeting of euro area finance ministers in Brussels, Eurogroup President Paschal Donohoe stated that this development reflects the euro area’s continued strength and growth. “The international role of the euro is a reflection of the strength of the euro area economy, and the euro area is still growing. Last month I announced good news about Bulgaria’s adoption of the euro. Today we continued the process of making it a reality, confirming the exchange rate of the lev against the euro, which will be finally set by the EU Council for Economic and Financial Affairs (ECOFIN),” Donohoe said at a press conference.
The final decisions on Bulgaria’s accession to the eurozone are scheduled for today, with two key institutions involved. The European Parliament is expected to vote during its session in Strasbourg, while the ECOFIN Council is meeting in Brussels to give its formal approval.
According to the current timeline, Bulgaria will officially adopt the euro on January 1, 2026. With this move, the country will conclude its full integration into the European Union’s core economic structures, becoming part of what many refer to as the “heart of Europe.”
No opposition is anticipated during today’s procedures. Bulgaria’s application to join the eurozone has received unanimous backing from EU leaders and member states. The report on Bulgaria’s accession is listed as the first item on the European Parliament’s agenda, with the vote expected to begin at 13:00 Bulgarian time.