保加利亚：欧元代表汇率

BULGARIA REPRESENTATIVE RATE FOR THE EURO This paperonBulgariawas prepared by a staff team of the International Monetary Fund.It is based on the information available at the time it was completed onSeptember 9,2025. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.orgPrice: $18.00per printed copy International Monetary FundWashington, D.C. BULGARIA REPRESENTATIVE RATE FOR THE EURO ApprovedByBernard Lauwers Prepared by the Finance Department in consultation withthe European, Legal, and Monetary and Capital MarketsDepartments. 1.The Council of the European Union decided on July 8, 2025 that Bulgaria hadfulfilled the necessary conditions for adoption of the euro with effect from January 1,2026,1and that the conversion rate should be set at 1.95583 Bulgarian lev per oneeuro.2The Bulgarian authorities notified the Fund on July 31, 2025, that the euro will betheir country’s currency, effective from January 1, 2026. 2.In December 1998, the Fund determined the procedures for therepresentative exchange rate for the euro under Rule O-2(b)(i) of the Fund’s Rules andRegulations after consultation with the 11 members that subsequently adopted theeuro when it was introduced on January 1, 1999.3These procedures provide that (i) therepresentative exchange rate for the euro under Rule O-2(b)(i) of the Fund’s Rules andRegulations is the rate against the U.S. dollar as published daily by the EuropeanCentral Bank; and (ii) the European Central Bank will promptly inform the Fund of anychanges in the exchange arrangements, which may affect the determination of therepresentative exchange rate. These same procedures were later applied to memberswho subsequently became members of the euro and to those members that are notmembers of the euro but use the euro as a legal means of payment.4,5 3.After consultations with the Bulgarian authorities, it is proposed that theapproach used to determine the representative exchange rate for the other euro areamembers be similarly extended to Bulgaria.