Bulgaria: Representative Rate for the Euro

International Monetary Fund

No 2026/057, IMF Staff Country Reports from 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.

Keywords: staff team; copyright page; representative exchange rate; capital markets department; IMF country; fund's rule; Exchange rates (search for similar items in EconPapers)
Pages: 2
Date: 2026-02-27
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=574334 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2026/057

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().