The parliamentary budget committee approved, at second reading, the bill on the introduction of the Euro in Bulgaria submitted by the Council of Ministers.
The bill envisages a period of dual display of prices so the public can get accustomed to the new currency. Their display in Leva and in Euro will start one month after the country joins the Eurozone and will remain in place for a period of one year.
Within the space of one month as of the date of the introduction of the Euro, the two currencies will be legal tender simultaneously, after which the Lev will be dropped, according to another text in the bill.
The Bulgarian National Bank will exchange banknotes and coins, from Leva to Euro, free of charge at the official exchange rate in unlimited quantities and without any time limit.
During the first six months after the introduction of the Euro, banknotes and coins can be exchanged, free of charge, at credit institutions as well. This will hold true of the offices of the national postal service Bulgarian Posts in settlements where there are no bank offices or branches.
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