Lev
From Freepedia
The Lev (lv) (Bulgarian: лев, plural - leva) is the currency of Bulgaria, and it has been used since 1881. Its smaller unit is called stotinka (plural - stotinki), and 100 stotinki are of the same value as one lev. In the 19th century Bulgarian language the name meant 'lion' (akin to the Romanian and Moldovan lei; the word has since changed to 'лъв' ('luv')).
During the 1990s, the exchange rate of the Bulgarian Lev was fixed to the German Deutsche Mark (DEM), with 1,000 Lev = 1 DEM. On July 5, 1999 the lev was revalued at the rate of 1,000 old Lev for 1 new Lev, so it became equal to the Deutsche Mark. The ISO 4217 currency code for the new Bulgarian Lev is BGN, while the code for the old Lev was BGL.
The exchange rate of the Bulgarian Lev is still fixed to 1.95583 BGN = 1 EUR (1BGL = 1 DEM). Bulgaria has a system of currency board, where all local currency in circulation is backed 100% by the foreign exchange reserves of the central bank.
The Lev is expected to be replaced by the Euro in 2009, soon after Bulgaria becomes a member of the European Union (probably in 2007).
External links
- Bulgarian National Bank
- Bulgarian Notes and Coins in Circulation
- Convert Current exchange rate: lev per US$
- Convert Current exchange rate: lev per EUR
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