Bulgarian Lev

• The Central Bank of the Republic of Bulgaria (CBRB) is the central bank of Bulgaria: its main objective is to maintain price stability and supervise the banks present in the country.
• Price fixing method: the exchange rate regime has been described as fixed against the euro since the creation of the single currency. To achieve this, the CBRB uses two levers, namely monetary policy and specific targeted interventions on the foreign exchange market.

• The central rate EUR/BGN is set at 1.9558 by the CBRB, and must remain within a relatively narrow fluctuation band around this level.
• Although Bulgaria does not plan to adopt the single currency in the medium term, it has nevertheless joined the ESCB (European System of Central Banks) and uses the same payment practices as in the eurozone.

• Due to the stability of the BGN against the EUR, market participants tend to hedge little of their foreign exchange transactions in EUR/BGN.

There are no specific restrictions on the purchase and sale of BGN.