This photo taken on July 27, 2023 shows the Euro sign in Frankfurt, Germany. (Xinhua/Zhang Fan)

Bulgaria joined the eurozone and adopted the euro as its official currency on New Year's Day.

SOFIA, Jan. 1 (Xinhua) -- Bulgaria joined the eurozone and adopted the euro as its official currency on New Year's Day, becoming the 21st member of the euro area.

Throughout January, the Bulgarian lev (BGN) will remain in circulation alongside the euro. However, from Feb. 1, the euro will become the country's sole legal tender.

Between Jan. 1 and June 30, people will be able to exchange lev for euros free of charge at banks and post offices. After this period, currency exchanges will be subject to a fee.

On June 4, 2025, the European Commission announced that Bulgaria had met the criteria to adopt the euro starting Jan. 1, 2026. The conclusion was outlined in the Commission's 2025 Convergence Report prepared at Bulgaria's request. A parallel report from the European Central Bank (ECB) supported the findings.