Currency Act — declaring cash at the border and foreign-currency transactions

With Bulgaria's adoption of the euro from the start of 2026, currency operations inside the country became substantially simpler — but the Currency Act remains relevant to the cross-border movement of funds and to transactions in currencies outside the euro area.

Declaring cash when entering or leaving the EU

Individuals carrying cash (banknotes, cheques, bearer securities) worth 10,000 EUR or more when entering or leaving the territory of the EU must declare it in writing to the customs authorities. The obligation applies regardless of whether the value is carried as cash, gold, or other readily liquid assets.

Penalties for non-declaration

Failure to declare is a standalone administrative offence, penalised irrespective of the origin of the funds — even entirely lawful income is subject to a penalty if it is not declared when carried above the threshold. Where there is a suspicion of a link to money laundering, the funds may be temporarily detained by the customs authorities for further checks.

Foreign-currency transactions after euro adoption

• Payments in euro between residents are no longer treated as foreign-currency transactions — the euro has been Bulgaria's official monetary unit since 1 January 2026.
• Transactions in a foreign currency other than the euro (US dollars, British pounds, etc.) are still treated as currency operations and remain subject to the accounting rules on revaluing exchange-rate differences.
• Banks and bureaux de change remain obliged persons under the Currency Act for certain types of transaction.

Conclusion

The Currency Act now bears mainly on the cross-border movement of funds outside the usual bank transfer — not on domestic settlements in euro after the currency changeover. When you plan to carry a larger sum of cash outside the EU, declaring it is a quick and simple step that prevents serious complications.

Accounting for exchange-rate differences

For companies working with currencies other than the euro, accounting for exchange-rate differences remains an important topic even after euro adoption. Receivables and payables in a foreign currency are revalued at the Bulgarian National Bank rate on the date of each transaction and at the end of the reporting period, and the resulting gains or losses are recognised in the financial result. Accurate tracking is especially important for exporters and importers with settlements in dollars or other currencies.

Frequently asked questions