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Encyclopedia > Bulgarian lev
Bulgarian lev
български лев (Bulgarian)
1 lev coin (2002)
2003 100 leva banknote (obverse) 1 lev coin (2002)
ISO 4217 Code BGN
User(s) Bulgaria
Inflation 7.2%
Source The World Factbook, 2006 est.
Pegged with euro = 1.95583 leva
Subunit
1/100 stotinka
Symbol лв
Plural levove, numeric: leva
stotinka stotinki
Coins 1, 2, 5, 10, 20, 50 stotinki, 1 lev
Banknotes 2, 5, 10, 20, 50, 100 leva
Central bank Bulgarian National Bank
Website www.bnb.bg
Mint Bulgarian Mint
Website www.mint.bg

The lev (Bulgarian: лев, plural: лева, левове / leva, levove) is the currency of Bulgaria. It is divided in 100 stotinki (стотинки, singular: stotinka, стотинка). In archaic Bulgarian the word "lev" meant "lion", akin to the Romanian and Moldovan lei. Image File history File links No higher resolution available. ... File links The following pages link to this file: Lev Categories: Currency images ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... “EUR” redirects here. ... Look up Plural in Wiktionary, the free dictionary Plural is a grammatical number, typically referring to more than one of the referent in the real world. ... central bank of the Republic of Bulgaria and one of the oldest central banks in the world, established on 25 January 1879. ... A mint is a facility which manufactures coins for currency. ... The Bulgarian Mint (Монетен двор, Moneten dvor), established in 1952, is solely responsible for the production of legal tender coins is Bulgaria. ... Leu (plural: lei) is the name shared by the currencies of Romania and Moldova. ...

Contents

History

First lev, 18811952

The lev was introduced as Bulgaria's currency in 1881 and was at the time equal to the French franc. Until 1916, Bulgaria's silver and gold coins were issued to the same specifications as those of the Latin Monetary Union. Banknotes were issued until 1928 backed by both gold ("leva zlato" or "zlatni", "лева злато" or "златни") and silver ("leva srebro" or "srebarni", "лева сребро" or "сребърни"). Year 1881 (MDCCCLXXXI) was a common year starting on Saturday (link will display the full calendar). ... 1952 (MCMLII) was a Leap year starting on Tuesday (link will take you to calendar). ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... 1916 (MCMXVI) was a leap year starting on Saturday (link will display the full calendar). ... The Latin Monetary Union (1865-1927) was a 19th century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. ...


After the First World War, inflation caused coins below 50 stotinki to cease being issued and denominations of coins up to 100 leva appeared in the 1930s. Except for one 10,000 leva zlatni issue in 1919, 5000 leva was the highest banknote denomination use. Coins ceased to be issued after 1943 with only banknotes issued until the currency reform of 1952. Ypres, 1917, in the vicinity of the Battle of Passchendaele. ... Face The 1930s (years from 1930–1939) were described as an abrupt shift to more radical and conservative lifestyles, as countries were struggling to find a solution to the Great Depression, also known in Europe as the World Depression. ... Year 1943 (MCMXLIII) was a common year starting on Friday (the link will display full 1943 calendar) of the Gregorian calendar. ...


Second lev, 195262

In 1952, following wartime inflation, a new lev replaced the original lev at a rate of 1 "new" lev = 100 "old" leva. Coins were issued in denominations between 1 stotinka and 1 lev, with banknotes in denominations between 1 and 200 leva. The first coins and all banknotes were dated 1951. 1952 (MCMLII) was a Leap year starting on Tuesday (link will take you to calendar). ... 1962 (MCMLXII) was a common year starting on Monday (the link is to a full 1962 calendar). ...


Third lev, 196299

In 1962, another redenomination took place at the rate of ten to one. After this, the lev remained fairly stable for almost three decades. However, like other Communist countries' currencies, it was not freely convertible for Western funds. Therefore, while the official exchange rate was around 90 stotinki to the US dollar, black market rates were five to ten times higher. 1962 (MCMLXII) was a common year starting on Monday (the link is to a full 1962 calendar). ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ...


Before the fall of Communism, coins were issued in denominations between 1 stotinka and 1 lev with notes between 1 and 20 leva. After the fall of Communism, Bulgaria experienced several episodes of drastic inflation and currency devaluation. During this period, coins were issued in denominations up to 50 leva and notes up to 50,000 leva. In order to change this, in 1997 the lev was pegged to the Deutsche Mark (DEM), at rate of 1000 leva to 1 DEM. The Deutsche Mark (DM, DEM) was the official currency of West and, from 1990, unified Germany. ...


Fourth lev, 1999–present

On July 5, 1999 the lev was redenominated at 1000:1 with 1 new lev equal to 1 Deutsche Mark. The ISO 4217 currency code for the new Bulgarian lev is BGN, while the code for the previous lev was BGL. Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... July 5 is the 186th day of the year (187th in leap years) in the Gregorian calendar, with 179 days remaining. ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... ISO 4217 Code DEM User(s) Germany, Montenegro, Kosovo ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 1. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...


With the replacement of the Deutsche Mark by the Euro, the lev's peg effectively switched to the euro, at the rate of 1.95583 BGN = 1 EUR, which is the Deutsche Mark's fixed exchange rate to euro. “EUR” redirects here. ...

Commemorative 1.95583 leva coin
Commemorative 1.95583 leva coin

Since 1997, Bulgaria has been in a system of currency board and all Bulgarian currency in circulation has been backed 100% by the foreign exchange reserves of the Bulgarian National Bank (BNB). The rate is unlikely to change before the lev's retirement. On 25 April 2005, when Bulgaria's EU accession treaty was signed, the BNB issued a commemorative coin with the face value of 1.95583 leva. The lev is expected to be replaced by the euro on 1 January 2010. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... // A currency board is a monetary authority which is required to maintain an exchange rate with a foreign currency. ... central bank of the Republic of Bulgaria and one of the oldest central banks in the world, established on 25 January 1879. ... April 25 is the 115th day of the year in the Gregorian calendar (116th in leap years). ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... “EUR” redirects here. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... This article or section does not cite its references or sources. ...


Coins

First lev

1883, 50 stotinki
1883, 50 stotinki
1912 20 stotinki
1912 20 stotinki

Between 1881 and 1884, bronze 2, 5 and 20 stotinki, and silver 50 stotinki, 1, 2 and 5 leva were introduced, followed, in 1888, by cupro-nickel 2½, 5, 10 and 20 stotinki. Gold 10 and 20 leva were issued in 1894. Bronze 1 stotinka were introduced in 1901. Image File history File links Size of this preview: 800 × 380 pixelsFull resolution (3018 × 1432 pixel, file size: 2. ... Image File history File links Size of this preview: 800 × 380 pixelsFull resolution (3018 × 1432 pixel, file size: 2. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... 1912 (MCMXII) was a leap year starting on Monday in the Gregorian calendar (or a leap year starting on Tuesday in the 13-day-slower Julian calendar). ...


Production of silver coins ceased in 1916, with zinc replacing cupro-nickel in the 5, 10 and 20 stotinki in 1917. In 1923, aluminium 1 and 2 leva coins were introduced, followed by cupro-nickel pieces in 1925. In 1930, cupro-nickel 5 and 10 leva and silver 20, 50 and 100 leva were introduced, with silver coins issued until 1937, in which year aluminium-bronze 50 stotinki were issued.


In 1940, cupro-nickel 20 and 50 leva were issued, followed, in 1941, by iron 1, 2, 5 and 10 leva. In 1943, nickel-clad-steel 5, 10 and 50 leva were struck. These were the last coins issued for this version of the lev.


Second lev

In 1952, coins (dated 1951) were introduced in denominations of 1, 3, 5, 10 and 25 stotinki, with the lower three denominations in brass and the higher three in cupro-nickel. Cupro-nickel 20 stotinki dated 1952 were also issued, followed by 50 stotinki in 1959 and 1 lev in 1960 (both also in cupro-nickel).


Third lev

In 1962, brass 1, 2 and 5 stotinki, and nickel-brass 10, 20 and 50 stotinki and 1 lev were introduced.

Communist era coins
Image Denomination Diameter Weight Composition Obverse Reverse Minted Year
1 stotinka  ??  ?? Brass Coat of Arms Denomination and date 1962-90
2 stotinki  ??  ??
5 stotinki  ??  ??
10 stotinki  ??  ?? Nickel-brass
20 stotinki  ??  ??
50 stotinki  ??  ??
1 lev  ??  ??

In 1992, a new coinage was introduced in denominations of 10, 20 and 50 stotinki, 1, 2, 5 and 10 leva. All were struck in nickel-brass except for the cupro-nickel 10 leva. In 1997, nickel-brass 10, 20 and 50 leva were introduced. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ...


Fourth lev

1999 50 stotinki coin
1999 50 stotinki coin

In 1999, coins in denominations of 1, 2, 5, 10, 20 and 50 stotinki and 1 lev were introduced. The 1 and 2 stotinki are struck in brass, the 5 stotinki in bronze and the 10, 20 and 50 stotinki in cupro-nickel. The 1 leva coins are bimetallic. File links The following pages link to this file: Lev Categories: Currency images ... File links The following pages link to this file: Lev Categories: Currency images ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ...


Banknotes

First lev

In 1885, the Bulgarian National Bank introduced notes for 20 and 50 gold leva, followed in 1887 by 100 gold leva and, in 1890, by 5 and 10 gold leva notes. In 1899, 5, 10 and 50 silver leva notes were issued, followed by 100 and 500 silver leva in 1906 and 1907, respectively. 500 gold leva notes were also introduced in 1907. central bank of the Republic of Bulgaria and one of the oldest central banks in the world, established on 25 January 1879. ...


In 1916, 1 and 2 silver leva and 1000 gold leva notes were introduced, followed by 2500 and 10,000 gold leva notes in 1919. In 1924, 5000 leva notes were issued, the first to lack a metal designation. In 1928, a new series of notes (dated 1922 and 1925) was introduced which gave the denominations solely in leva. Denominations introduced were 5, 10, 20, 50, 100, 500, 1000 and 5000 leva. These were followed in 1929 by 200 and 250 leva.


In 1930, coins up to 100 leva replaced notes, although 20 leva notes were issued between 1943 and 1950. Between 1943 and 1945, State Treasury Bills for 1000 and 5000 leva were issued.


Second lev

In 1952, state notes (dated 1951) were issued in 1, 3 and 5 leva, together with notes of the National Bank for 10, 20, 50, 100 and 200 leva. 500 leva notes were printed but not issued.


Third leva

In 1962, the National Bank issued notes for 1, 2, 5, 10 and 20 leva. A second series, in the same denominations, was issued in 1974. 50 leva notes were introduced in 1990. After the fall of the communist regime, new notes were introduced for 20, 50, 100 and 200 leva. These were followed by 500 leva notes in 1993, 1000 and 2000 leva in 1994, 500 and 10,000 leva in 1996, and 50,000 leva in 1997.


Fourth leva

In 1999, banknotes were introduced in denominations of 1, 2, 5, 10, 20 and 50 leva. 100 leva notes were added in 2003.

1999 series [1]
Image Value Dimensions Main Colour Description Date of printing Remark
Obverse Reverse Obverse Reverse Watermark
1 lev 112 × 60 mm Red Ivan Rilski Rila Monastery Rampant lion 1999 Rarely seen in circulation, replaced by coin
2 leva 116 × 64 mm Violet Paisii Hilendarski Istoriya Slavyanobolgarskaya 1999, 2005
5 leva 121 × 67 mm Red Ivan Milev Paintings by Ivan Milev 1999
10 leva 126 × 70 mm Green Petar Beron Astronomical instruments This design was also used for the 10,000 BGL (third leva) banknote
20 leva 131 × 73 mm Blue Stefan Stambolov Orlov most, Lavov most The most common banknote produced by ATMs
50 leva 136 × 76 mm Brown Pencho Slaveykov Poems by Pencho Slaveykov 1999, 2006
100 leva 141 × 79 mm Green Aleko Konstantinov Aleko Konstantinov 2003
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.
Current BGN exchange rates
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Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Saint John of Rila or Saint Ivan Rilski (Bulgarian: свети Иван Рилски, sveti Ivan Rilski) (876 – c. ... Rila Monastery with the medieval tower The Rila Monastery (Bulgarian: Рилски манастир, Rilski manastir) is the largest and most famous Eastern Orthodox monastery in Bulgaria. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Saint Paisius of Hilendar or Paisiy Hilendarski (Bulgarian: свети Паисий Хилендарски) (1722 – 1773) was a Bulgarian clergyman and a key Bulgarian National Revival figure. ... A page from the book Istoriya Slavyanobolgarskaya (Cyrillic: История славяноболгарская; История славянобългарска in modern Bulgarian, translated as Slavonic-Bulgarian History) is a book by Bulgarian scholar and clergyman Saint Paisius of Hilendar. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Petar Beron (Bulgarian: ) ( 1795 – March 21, 1871) was a famous Bulgarian educator. ... Wikipedia does not yet have an article with this exact name. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... A statue of Stefan N. Stambolov in his birthplace Veliko Turnovo Stefan Nikolov Stambolov (Bulgarian: Стефан Николов Стамболов) (January 31, 1854 - July 6, 1895) was a Bulgarian revolutionary and statesman. ... Heavy traffic at Orlov most. ... Lavov most Lavov most (Bulgarian: , meaning Lions Bridge) is a bridge over the Vladaya River in the centre of Sofia, the capital of Bulgaria, built 1889-1891 by Czech architect Václav Prošek, his brother Jozef and his cousins Bohdan and Jiří. It gives the name to the important... An NCR Personas 85-Series interior, multi-function ATM in the USA An automated teller machine or automatic teller machine (ATM) is a computerised telecommunications device that provides a financial institutions customers a method of financial transactions in a public space without the need for a human clerk or... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Pencho Slaveykov Pencho Slaveykov (left sculpture) and his father Petko (right sculpture) as immortalized on Slaveykov Square in Sofia Pencho Petkov Slaveykov (Bulgarian: ) (27 April 1866 - 28 May 1912) was a noted Bulgarian poet and one of the participants in the Misal (Thought) circle. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Author of Baui Ganyu. ...

See also

Currently there are several currencies pegged to the euro, some with fluctuation bands around a central rate and others with no fluctuations allowed around the central rate. ... Bulgarian euro coins have not yet been designed. ... The economy of Bulgaria has contracted dramatically after 1989 with the collapse of the COMECON system and the loss of the Soviet market, to which the Bulgarian economy had been closely tied. ...

References

  • Chester L. Krause & Clifford Mishler (1991). in Colin R. Bruce II: Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1. 
  • Albert Pick (1994). in Neil Shafer & Colin R. Bruce II: Standard Catalog of World Paper Money, General Issues, 7th ed., Krause Publications. ISBN 0-87341-207-9. 

External links


  Results from FactBites:
 
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Bulgarian lev - Wikipedia, the free encyclopedia (378 words)
The lev was introduced as Bulgaria's legal tender in 1881 and was at the time equal to the French franc.
On July 5, 1999 the lev was redenominated at 1000:1 with 1 new lev equal to 1 Deutsche Mark.
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).
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