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The massive exchange of levs forced the cabinet to credit the post office with €25 million
In just one week, over 30 million levs were exchanged at Bulgarian Post Office branches, and there are requests for the same amount again
~ 2 min read
The government granted an emergency working capital loan of €25 million to Bulgarian Posts EAD to ensure the smooth introduction of the single European currency. The measure comes in response to the high interest in the services of the national postal operator in the first days of the adoption of the euro.
Data from the Council of Ministers show that in the first week alone since the start of the process, nearly BGN 30 million has been exchanged in the Bulgarian Post network. The pressure on the cash desks continues to grow, with requests for the conversion of another BGN 26 million already accepted.
It is precisely the influx of citizens exchanging amounts between BGN 1,000 and BGN 10,000 (requiring a prior application) that has necessitated the provision of additional funding. The aim is to ensure that post offices have sufficient euro cash reserves to avoid any interruption in service.
The funds are provided in the form of repayable financial assistance. According to today's decision by the Council of Ministers, Bulgarian Post must repay the amount to the state budget (to the Ministry of Transport and Communications) by September 30, 2026. The money will be used exclusively as working capital for currency exchange.
We would like to remind you that post offices play a key role in the process of migration to the single European currency in small and remote settlements where there are no bank branches. The exchange of levs into euros will remain free of charge until the end of June this year.
Limits and conditions for exchange at Bulgarian Posts
Unlike banks, post offices have specific restrictions:
- Up to BGN 1,000 per day: Can be exchanged freely at the cash desk (depending on availability at the specific branch);
- From BGN 1,000 to BGN 10,000: A prior request is required 3 to 5 business days in advance. This exchange is only carried out at pre-determined post offices (a total of about 2,230 branches in the country);
- Over BGN 10,000: Bulgarian Post does not exchange amounts above this limit per person per day. For larger amounts, citizens should contact a commercial bank or the Bulgarian National Bank.
Translated with DeepL.
