EXPLAINERNews|European UnionWhich countries will start using the euro in 2026?On January 1, Bulgaria will become the 21st country to adopt the European Union’s single currency.
On Thu, Jan 1, 2026, Bulgaria will transition from its national currency, the lev, to the euro, becoming the 21st European nation to adopt the euro.
On Thu, Jan 1, 2026, Bulgaria will transition from its national currency, the lev, to the euro, becoming the 21st European nation to adopt the euro.
Bulgaria, a country with a population of 6.7 million, has been a member of the European Union (EU) since Mon, Jan 1, 2007. It joined the Schengen Area in Mar 2024, marking significant steps in its integration into Europe.
Following Bulgaria's adoption of the euro, six EU countries will continue to use their own currencies: Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden.
The euro serves as the official currency of the EU, facilitating trade and travel among member states. Approximately 350 million people use the euro, making it the primary official currency in the EU and the second-most traded and held reserve currency globally, after the US dollar.
The European Central Bank and the Eurosystem manage the euro. The currency includes six banknotes, depicting various European architectural styles. Although the 500 euro note was discontinued in 2019, it remains legal tender. While euro banknotes are uniform across the eurozone, coins feature a national side selected by each country.
On Thu, Jan 1, 2026, Bulgaria will transition from its national currency, the lev, to the euro, becoming the 21st European nation to adopt the euro.
The EU, established as a political and economic bloc of 27 countries in 1993, aims to foster cooperation, free trade, and shared policies across Europe. Most EU nations are legally obligated to adopt the euro upon meeting specific economic criteria. These countries collectively form the eurozone.
Denmark negotiated an opt-out from joining the eurozone under the 1992 Edinburgh Agreement, exempting it from a legal requirement to adopt the euro. A country aspiring to join the eurozone must participate in ERM II (the Exchange Rate Mechanism) for at least two years, during which its currency is pegged to the euro. Excessive fluctuation during this period disqualifies a country from adopting the euro.
Besides EU members, Andorra, Monaco, San Marino, and Vatican City have formal agreements to use the euro as their official currency, despite not being EU members.
The euro was introduced to financial markets as an accounting currency on Fri, Jan 1, 1999, replacing the European Currency Unit (ECU) at a 1:1 ratio. Physical coins and banknotes began circulating on Tue, Jan 1, 2002, and national currencies were completely replaced by Mar 2002.
1999 : Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. 2001 : Greece joined on Jan 1. 2007-2009 : Slovenia, Cyprus, Malta, Slovakia. 2011-2015 : Estonia, Latvia, Lithuania. 2023 : Croatia. 2026 : Bulgaria will join on Jan 1.
Based on reporting by Al Jazeera.