Regulatory Alerts2025-07-31
Ordinance No 48 of the BNB on the Exchange of Mutilated or Damaged Banknotes and Coins from Levs to Euro
The Bulgarian National Bank issued Ordinance No 48 to establish the conditions and procedures for exchanging mutilated or damaged lev banknotes and coins into euro following the currency's introduction. The regulation mandates that banks perform immediate exchanges without fees during the first six months, while the BNB handles deferred exchanges for complex cases through a dedicated commission. It defines specific valuation ratios based on the physical integrity of the currency and outlines requirements for documentation, origin of funds declarations, and potential fees for deferred processing.
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