Notice Regarding Adopted a Decision on the Adoption of the Euro in the Republic of Bulgaria in the Context of Contractual Relations
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Notice Regarding Adopted a Decision on the Adoption of the Euro in the Republic of Bulgaria in the Context of Contractual Relations Dear partners and business associates,

Notice Regarding Adopted a Decision on the Adoption of the Euro in the Republic of Bulgaria in the Context of Contractual Relations

We hereby inform you that in accordance with the Law on the introduction of the euro in the Republic of Bulgaria, as of the date of adoption of the euro as the national currency in the Republic of Bulgaria on 01.01.2026, all amounts specified in Bulgarian levs in the contracts concluded by you and Bulstrad Vienna Insurance Group will be converted to euro, based on the official exchange rate of euro to Bulgarian lev determined with the adoption of this Law, which is BGN 1.95583 for EUR 1. During this conversion, any previous amounts in BGN will be divided by the full six-digit numerical value of the official exchange rate, and then, based on the third position to the right of the decimal, the resulting value will be rounded to the second position in the following manner:

 

 

 

  • if the third position to the right of the decimal is less than 5, the second position remains unchanged;
  • if the third position to the right of the decimal is equal to or greater than 5, the second position is increased by 1.

During the first month after the date of introduction of the euro in the Republic of Bulgaria on 01.01.2026, called the period of dual circulation of levs and leuro, banknotes and coins denominated in levs will continue to be legal tender on the territory of the Republic of Bulgaria.

If during this period Bulstrad Vienna Insurance Group receives a cash payment in Bulgarian levs or in euro, the entire resulting balance (change) will be returned in euro. If at that time the employee receiving the payment does not have sufficient funds to return the entire balance in euro, then the entire balance will be returned in levs. When receiving cash payments during this period, Bulstrad Vienna Insurance Group may refuse to accept more than 50 coins denominated in levs, including stotinki.

During the period of dual circulation, execution of payments through bank transfer will be available only in euro. The systems for processing interbank client transfers in BGN (BISERA 6, RINGS) will cease to function as of the date of introduction of the euro.