Currency rate today

[bulgariagetaway]

Hi can anyone tell me the currency rate today now we are leaving the EU I assume the rate will shrink as it is pegged to the euro
Thanks

[Chez2]

I wouldn't say its "pegged to the Euro" anymore than Sterling was/is. What makes you say this? The exchange rate varies daily and from place to place. It also depends on whether you are buying or selling Leva. Sometimes we have found the exchange rate better in Bulgaria, sometimes at home. It doesn't always depend on if its early season or high tourist season. You also get a much better rate if you are changing large amounts of cash. Anyway, for what its worth these are my findings on small sums of money over the last three to four months.

We were getting 2.3 Lev to £1 here in the UK, about the same in Vlas late May / early June. My parents went over late June and it was similar. It has been around 2.2 since the referendum and its now showing 2.15. I haven't trawled the markets and this is for very small amounts of money, less the £300.

Were you asking what exchange rate they are getting in resort in Bulgaria? I shall watch the response with interest.

[bulgariagetaway]

Hi the lev is pegged to the euro at a rate of 1.95 lev to 1 euro and has been for a few years as Bulgaria hope to join the EU in 2017. The criteria to join the EU has been met apart from the corruption issue which the Bulgarian government are working on. I thought everyone knew about the pegged leva that is why the bills for maintenance etc are all in euro.

[J&K]

Bulgaria joined the eu nearly 10 years ago didn't they ?

[Chez2]

Bulgaria joined the eu nearly 10 years ago didn't they ?

Yes, January 2007 but they are no more "pegged to the Euro" than we are. We really noticed the changes the year they went into the EU. Taxi prices doubled from summer 2006 to summer 2007. We started going to Bulgaria twice a year in either 2004 or 2005.

[Chez2]

Hi the lev is pegged to the euro at a rate of 1.95 lev to 1 euro and has been for a few years as Bulgaria hope to join the EU in 2017. The criteria to join the EU has been met apart from the corruption issue which the Bulgarian government are working on. I thought everyone knew about the pegged leva that is why the bills for maintenance etc are all in euro.

It seems a lot of people haven't heard that the Lev is pegged to the Euro. I have asked loads of people, including Fort Noks reception staff why the quote prices in Euros but charge in Lev. Why not just quote the currency you are going to charge in?

What benefit (or drawback) is it to peg the Lev to the Euro? What was it supposed to achieve or what has it achieved? What is the purpose? Was it just so they can retail the Lev but its as good as trading in Euros? I Googled it once I read your post but couldn't find the idea behind this. Thanks.

[bulgariagetaway]

Hi, yes I googled it that is where I found the info, reason is that Bulgaria were going to join the EU in 2007 as previous post said. There were a few processes that they could not achieve and therefore were refused entry at that time but the euro was then pegged so that it would be a simpler process when they actually join to convert their currency to euro. Hence the two currencies at present. Bulgaria is not a full member of the EU but they are trying hard, I feel it will ruin the country.

[Chez2]

According to the EU website they joined the EU in 2007.

http://europa.eu/about-eu/countries/member-countries/