Exchange GBP to BGL - Convert Pound to Bulgarian LEV - Free Online Quote

GBP to BGL Exchange Rate

Currency Information on BGL, Currency Information on Bulgaria - BGL- Bulgarian lev - лв. The foreign exchange currency code for BGL represents the Bulgarian LEV exchange rate. Currency Exchange Rates for Bulgarian LEV.

Salient Characteristics of the Bulgarian Lev in Europe Today 

History of the Lev

The Bulgarian Lev (BGN) is the core monetary unit in Bulgaria, a Balkan state nestled in South eastern Europe. The Lev became the country's currency in the early 1800s following the emancipation from the conquest of the Ottoman Empire in the form of coins and stotinki. The central bank introduced a chain of reforms by changing coin-making materials from bronze to silver, gold to brass-plated steel, and the new cupro-nickel alloy stotinki. Stotinki coins stand out with the crest of a Madara horseman on the frontage. The 1 Lev and 2-Lev banknote became phased out in 2002 and 2015 by coins. Bulgarian Lev notes emerged in 1885 and had evolved in denomination and composition. In the early 1950s, leva notes began circulating, but mass printing occurred later in 1997 when 50 000 notes got printed.  

BGN Coins and Banknotes Available

You can trade in Bulgarian coins available in 1, 2, 5,10,20,50 stotinka and 1 and 2 leva. The BGN Leva notes available include 2, 5, 10, 20, 50, and 100. However, coins denominated one stotinka have gone out of circulation. 

Does the BGN have Any Restrictions?

Bulgaria signed treaties with the European Union when it joined the bloc in 2007 committing to transit its currency to the Euro. The country embraced the currency board which gives the Bulgarian Central Bank an open monetary policy. The Bulgarian Leva remains pegged to the euro at a pre-determined fixed exchange rate which has played a vital role in stabilizing the Lev against global currencies. 

Any substitute currencies or Alternatives? 

In Bulgaria, the euro has not yet replaced the Lev as legal tender. Bulgaria must first meet all the limbs of the euro convergence criteria to join the Eurozone members. Although businesses in international travel, tourism, and multinationals publish prices in euro, transactions adopt the Leva/BGN.

Is the Currency Facing Any issues? 

Bulgaria's Lev remains tied to the euro at one euro=1.95583 Lev. It restricts money holders who capitalize on gain against other currencies. Some leva notes are worthless and no longer acceptable as legal tender; unscrupulous traders issue them to unwatchful tourists or foreigners. Although the BGN has enjoyed a steady trajectory, it's not clear when Bulgaria will meet the long-term convergence criteria to join the euro-zone and adopt the euro as its currency. Lastly, the Bulgarian Lev depends on the currency board with a fixed exchange rate; this makes adjustments of local interest and exchange rates to stimulate the economy harder. It is one of the best in the world.

Convert Pound to Bulgarian LEV

Convert GBP to BGL exchange rate. Buy and sell British Pounds to Bulgarian LEV. Convert BGL to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to BGL - Convert Pound to Bulgarian LEV for a Free Online Quote.

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