The Bulgarian National Bank (BNB) has clarified the methodology for the conversion of levs into euros. According to the official instructions, the lev value will be divided by the fixed exchange rate of 1.95583, without rounding or truncating the number. This information can be found in the “Joining the Eurozone” section – Questions and Answers on the BNB website.
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How is the amount rounded?
When converting prices, the resulting amount will be rounded to the second decimal place, following a mathematical rule:
If the third digit after the decimal point is less than 5, the second digit remains unchanged. If it is equal to or greater than 5, the second digit is increased by one. This principle ensures accuracy and transparency in the transition to the new currency.
Example of calculation
If a loaf of bread currently costs 1.70 BGN, after applying the exchange rate and rounding rule, its price in euros will be 0.87 EUR (87 euro cents). This provides clarity for consumers and businesses during the transition to the euro.
Exceptions to this rule may only be made where expressly provided for in European Union legislation.
The BNB continues to inform citizens about all aspects of the currency transformation, with the goal of maximum transparency and convenience for everyone.
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