IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2026-057.html

Bulgaria: Representative Rate for the Euro

Author

Listed:
  • International Monetary Fund

Abstract

This paper discusses Bulgaria’s representative rate for the Euro. On July 8, 2025, the Council of the European Union officially confirmed that Bulgaria fulfilled all necessary criteria to join the Eurozone. Consequently, the euro was adopted as Bulgaria's national currency on January 1, 2026, with a fixed conversion rate of 1.95583 Bulgarian lev per euro. Following this transition, the IMF addressed the technical requirements for determining Bulgaria's representative exchange rate under Rule O-2(b)(i). Aligning with procedures established in 1998 for the original Eurozone members, the IMF proposed that Bulgaria’s representative rate be defined by the euro’s value against the U.S. dollar, as published daily by the European Central Bank ECB. This decision ensures consistency across all member states using the euro as legal tender, maintaining a standardized methodology for exchange arrangements and financial reporting within the Fund's regulatory framework.

Suggested Citation

  • International Monetary Fund, 2026. "Bulgaria: Representative Rate for the Euro," IMF Staff Country Reports 2026/057, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2026/057
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=574334
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2026/057. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.