What affects exchange rates between the US dollar and the Bulgarian lev?
The Bulgarian lev (BGN) today is pegged to the euro at a rate of 1.95583 lev to 1 euro. As a result, the USD/BGN exchange rate depends only on the USD/EUR exchange rate. If the euro is strengthening, so will the lev, and vice versa.
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
$1, $5, $10, $20, $50, $100
1c, 5c, 10c, 25c, 50c
The official currency of Bulgaria is the lev, introduced in 1881. Despite joining the EU in 2007, Bulgaria steadfastly holds on to its currency that ensures an inexpensive cost of living for its citizens. The country is one of the world’s biggest wine producers, averaging some 200,000 tons of wine per year.
1, 2, 5, 10, 20, 50, 100 leva
1, 2, 5, 10, 20, 50 stotinki, 1, 2 leva
How does the US dollar trade against the Bulgarian lev historically?
Throughout history, there have been many different exchange rate regimes in place in Bulgaria. Due to Bulgaria’s history as a communist state in the Soviet Union, as well as a traditionally weak European economy, all these exchange rate regimes have eventually been ended and replaced by a new one. It is now expected that the current peg to the euro will remain in place until Bulgaria eventually adopts the euro as their currency.
Since the year 2014, the Bulgarian lev has been trading between 1.39 and 1.88 to the dollar, following the fluctuations of the USD/EUR exchange rate.
US Dollar to the Bulgarian Lev for the last 10 years
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US Dollar to the Bulgarian Lev for the last 10 months
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US Dollar to the Bulgarian Lev for the last 10 days
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Send money from USD to BGN
How can I predict future exchange rates between the US dollar and Bulgarian lev?
The current peg to the euro of 1.95583 lev to 1 euro will likely remain in place for the next few years until Bulgaria finally adopts the euro.
Bulgaria’s expected adoption of the euro has been postponed several times for a variety of reasons. Additionally, due to the current financial problems within the Eurozone, Bulgaria’s appetite for joining has been going down somewhat. It is therefore unclear when, or if, Bulgaria will adopt the euro.
Anyone looking to make large transactions or deposits in Bulgarian lev should be sure to stay updated on the current euro peg policy or indications that Bulgaria may be adopting the euro.
Market rate for common transfer amounts USD to BGN
Adrienne Fuller is the head of publishing at Finder US. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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