For a day and a half between Christmas and New Year's, around 1 billion leva were withdrawn from circulation, announced the chief secretary of the Association of Banks in Bulgaria, Assoc. Prof. James Yolovski.
As of December 23, 2023, there were about 21 billion leva in circulation. At the start of the process, the sum was around 30 billion leva, with just over a third already withdrawn. Yolovski pointed out that the pace is similar to that in Croatia when the euro was introduced. Another large part is expected to be withdrawn in January.
The banks are prepared for this process, having processed 1 billion leva within a day and a half.
Until the end of June, banks exchange banknotes and coins free of charge. It is recommended to sort the coins for faster service. The BNB will exchange banknotes and coins without a deadline and without fees.
When exchanging coins, it is possible to be directed to centers with coin counting machines, established in larger settlements.
Banks strictly comply with the Law on Measures Against Money Laundering, and for amounts over 5000 euros, a declaration of the origin of the funds is required.