The Bulgarian National Bank (BNB) will stop announcing the base interest rate after the introduction of the euro as national currency. This is stated in the series of questions and answers with which the central bank explains the introduction of the common European currency.

Once the announcement of the base interest rate is discontinued, its role in calculating the legal interest rate will cease. The interest rates of the European Central Bank will apply.

The BNB recalls that from the date of the introduction of the euro in Bulgaria for a period of 1 month, the lev and the euro will be legal tender. Only cash payments will be possible in both currencies. All bank transfers and card payments will be in euros only. ATMs will also operate only with euro banknotes.

From the date of the introduction of the euro, financial institutions will convert all BGN accounts, interest-free, without fees or commissions.