So, you’re looking at your wallet or a bank statement and seeing Bulgarian Leva, but you need to know what they're worth in Greenbacks. Converting BGN currency to USD used to be a straightforward math problem. Today? It’s a bit of a historical event.
On January 1, 2026, Bulgaria officially ditched the Lev and joined the Eurozone.
This isn't just a minor "change of scenery" for travelers. It is a massive shift for anyone holding Bulgarian cash or running a business in Sofia. Because the Lev is being phased out, your path to US Dollars now looks a lot different than it did even six months ago.
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The New Math of the Bulgarian Lev
If you have a stack of BGN bills, you're probably wondering why the exchange rate feels so "fixed." Well, that’s because it literally is. For years, the Bulgarian Lev was pegged to the Euro at a rate of 1.95583 BGN to 1 EUR.
Now that Bulgaria is the 21st member of the Eurozone, that peg has become the final conversion bridge.
Currently, the market rate for the Bulgarian Lev (while it still circulates) hovers around $0.60 USD for 1 BGN. To put that in perspective, 100 Leva will get you roughly $60, give or take a few cents depending on the daily fluctuations of the Euro against the Dollar.
Basically, the Lev moves in lockstep with the Euro. If the Euro strengthens against the USD, your BGN effectively becomes more valuable too.
What’s Actually Happening to Your Money?
Don't panic if you still have Leva. You haven't lost your money. But you do have a ticking clock.
Bulgaria is currently in a "dual circulation" phase. For the month of January 2026, you can still pay for your banitsa or coffee using BGN coins and bills. However, the shopkeeper is going to give you change in Euro. By February 1, 2026, the Lev officially loses its status as legal tender.
If you’re trying to move money from BGN currency to USD right now, here is the deal:
- Bank Accounts: Most Bulgarian bank accounts were automatically converted to Euro on New Year's Day. If you're sending money to the States from a Bulgarian account, you're likely sending Euro now, not Leva.
- Physical Cash: You can swap BGN for Euro for free at commercial banks and post offices until June 30, 2026.
- The BNB Safety Net: The Bulgarian National Bank (BNB) has promised to exchange Leva for Euro indefinitely. No fee. No expiration.
Why the Switch Matters for the Dollar
You might think, "I just want to know the exchange rate, why does the Euro matter?"
Honestly, it matters because the volatility has shifted. When you trade BGN for USD, you are essentially trading the Euro's stability against the US Dollar's performance.
Investors like Jasmin Groeschl from Allianz have noted that this transition reduces transaction costs and builds a huge amount of "institutional trust." For someone holding Leva, this is good news. It means your currency is no longer a "niche" Balkan money; it’s a subset of one of the world's most powerful reserve currencies.
Where to Get the Best Rates
If you are physically in Bulgaria and need US Dollars, avoid the "Change" kiosks at the airport or near the Sunny Beach tourist traps. They will eat you alive on the spread.
Go to a reputable bank like UniCredit Bulbank or DSK. Since the country is mid-transition, some smaller exchange desks are using the confusion to pad their margins. Always check the official BNB rate first.
For digital transfers, platforms like Wise or Revolut are still the kings. They use the mid-market rate, which is the "real" rate you see on Google, rather than the marked-up rates banks use to make a profit.
Is the Lev Truly Gone?
Kinda. While it’s leaving our pockets, the history remains. The Lev served Bulgaria for 145 years. Moving to the Euro is a "final milestone," as President Rumen Radev put it in his New Year’s address.
But for you, the person just trying to buy something in USD, the process is now a two-step mental dance: convert your Leva to Euro (at that 1.95583 rate), then see how the Euro is doing against the Dollar.
Actionable Steps for BGN Holders:
- Check your digital balance: Log into your Bulgarian banking app. Your balance should already be in EUR. If you need to send it to a USD account, do it now while the conversion rates are clear.
- Dump the paper: If you have physical BGN banknotes, spend them before February 1st or deposit them into a bank account immediately to avoid the hassle of manual exchanges later this year.
- Watch the ECB: Since the Bulgarian National Bank Governor now sits on the ECB Governing Council, keep an eye on Frankfurt’s interest rate decisions. Those decisions will now directly dictate the value of your Bulgarian savings against the US Dollar.
- Audit your invoices: If you're a freelancer or business owner, update your templates. Billing in BGN is becoming a legacy headache. Switching your base currency to EUR or USD now will save you a massive reconciliation mess during tax season.