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Bulgaria's unit of currency is the lev (pl., leva). In October 2006, the U.S. dollar was worth 1.57 leva. In 1999, the value of the lev was pegged to that of the German Deutschmark, which was replaced by the euro in 2001. Following Bulgaria's admission to the EU, the lev is scheduled to be replaced by the euro. [143]
In 1952, state notes (dated 1951) [14] were issued in 1, 3 and 5 leva, together with notes of the National Bank for 10, 25, 50, 100 and 200 leva. 500-lev notes were printed but not issued. 1 lev notes were withdrawn after the introduction of a coin in 1960. 1, 3, and 5 leva depict the state emblem, while all denominations 10 leva and up depict ...
The Bulgarian economy has experienced rapid growth in recent years reaching estimated gross domestic product (GDP) of $162.68 billion (PPP, 2018 est.), GDP per capita of $23,207 (PPP, 2018 est.), and average monthly gross salary of 1205 leva (616 euro) (December, 2018).
At first, the Bulgarian Lev was pegged to the Deutsche Mark, and from 1999 – to the Euro, at the rate of 1.95583 Leva for 1 Euro. Later in the same year the Bulgarian Lev was re-denominated. In 1998, the BNB Printing Works was opened for business, and it began the production of banknotes and bonds with a very high level of security.
Bulgaria plans to adopt the euro and become the 21st member state of the eurozone. The Bulgarian lev has been on a currency board since 1997, with a fixed exchange rate initially against the Deutsche Mark and subsequently its replacement the euro. Bulgaria's target date for introduction of the euro was 1 January 2025.
SOFIA (Reuters) - Bulgarian Foreign Minister Mariya Gabriel of the center-right GERB party agreed on Monday to form a new government, following the resignation of Prime Minister Nikolai Denkov on ...
Prices in Bulgaria amount to 49 per cent of the European Union average, [37] At the same time average salaries are the lowest among European Union members at 768 leva (393 euro) for September 2012. [38] The minimum wage is ten times lower than that of some member states, [39] amounting to 310 leva (159 euro), or about 1 euro per hour. Twenty ...
SOFIA (Reuters) - The Bulgarian parliament on Thursday approved a $1.5 billion purchase of Stryker fighting vehicles from the United States to modernise the country's army and bring it in line ...