The currency of Bulgaria. Currency code (BGN)

What Is the BGN (Bulgarian Lev)?

BGN is the currency code for the Bulgarian lev, which is the official currency of the country of Bulgaria. The currency code was BGL until 1999. The currency symbol is лв. The BGN is made up of 100 stotinki. The currency's name comes from the archaic Bulgarian word "lev," which can be translated to mean "lion."

Understanding the Bulgarian Lev

Bulgaria has made plans in the past to switch over from the Bulgarian lev (BGN) to the euro, but not everyone agrees that getting rid of the lev would be in the country’s best interest. Some financial experts believe that Bulgaria should hold tight to the lev, keeping it solid and stable. Keeping the lev stable has proven to be an excellent move for Bulgaria. The currency's stability saw the country through external financial crises, such as the Great Recession of 2009 and the banking collapse of the Corporate Commercial Bank—Bulgaria's fourth-largest bank—in 2014.

The Bulgarian economy is industrialized, and the country is upper-middle-class. Since 2009, inflation has been relatively stable, fluctuating below 5%. Primary exports include steel and iron, clothing, and machinery.