Dear clients,
We would like to inform you that, in accordance with the provisions of Art. 3 of the Law on the Introduction of the Euro in the Republic of Bulgaria and Decision (EU) 2025/1407 of the Council of the European Union on the adoption of the euro by Bulgaria, as of 01.01.2026, the official currency in the Republic of Bulgaria will be the euro. The monetary unit is one euro, which is divided into one hundred cents.
On 01.01.2026, the Bulgarian Stock Exchange AD (BSE) will convert from levs to euros the market value of non-cash financial instruments admitted to trading on the markets organized by the BSE. The conversion from levs to euros is carried out by dividing the numerical value in levs by the full numerical value of the official exchange rate, expressed in six digits with all five decimal places.
The official exchange rate set by Council Regulation (EC) 2025/1409 of 8 July 2025 is 1 euro = 1.95583 Bulgarian leva.
The official exchange rate is not rounded or truncated when performing the currency conversion. After conversion, the resulting amount is rounded to the second decimal place based on the third decimal place in accordance with the following mathematical rounding rule: when the third decimal place is less than five, the second decimal place remains unchanged, and when the third decimal place is equal to or greater than five, the second decimal place is increased by one.
Example: A numerical value of 100,000 BGN after dividing it by the official exchange rate of 1.95583 will be 51,129.188. Since the third decimal place is greater than five, and not less, the converted amount is EUR 51,129.19.
On 01.01.2026, "Central Depository" AD will automatically convert from BGN to EUR the nominal value of non-cash financial instruments entered in the central securities register, subject to the conversion and rounding rules specified above.
On 01.01.2026, the nominal value of all government securities (GS) in BGN shall be converted by the Bulgarian National Bank (BNB) once from BGN to EUR, subject to the conversion and rounding rule specified above.
The conversion of monetary values applies to the monetary amounts on the client's account with Karoll AD.
Settlement on cash accounts for transactions with financial instruments concluded in levs before 01.01.2026, which will be concluded after 01.01.2026, shall be carried out in euros. No fees or commissions shall be charged for currency conversion activities. In connection with the fulfillment of the requirements of the Law on the Introduction of the Euro in the Republic of Bulgaria, within three business days before the date of the introduction of the euro in the Republic of Bulgaria, all transactions and operations with noncash financial instruments shall be suspended. Transactions and operations shall resume on the first business day after the introduction of the euro. All settlement systems shall provide for the possibility of concluding transactions in euros from that date.
On 19.11.2025, at its meeting, the Council of Ministers of the Republic of Bulgaria decided to declare the days 31.12.2025 and 02.01.2026 non-working.
Given the above, the last trading session on the regulated market and multilateral trading systems organized by the Bulgarian Stock Exchange AD for 2025 will be on 22.12.2025, and the days 23, 29 and 30.12.2025 will be business days without trading sessions.
The first trading session in 2026, with trading and settlement currency in euro for all instruments admitted to the BSE markets, will be on 05.01.2026.
In connection with the above, we ask the clients of Karoll AD to keep in mind that submitted orders for transactions with financial instruments denominated in leva, which were not executed within the last BSE trading session on 22.12.2025, will be deleted ex officio and in case you wish to submit an order with the same parameters, but in euro, you should do so on 05.01.2026.
Karoll AD will not accept orders for transactions with financial instruments denominated in leva, including those submitted via an electronic platform on 23, 29 and 30.12.2025.
During the remaining days of December 2025, the working hours of the offices of Karoll AD with clients will undergo the following changes, in connection with the planned currency conversion actions by the Bulgarian Stock Exchange and the Central Depository:
Head Office - Sofia, last working day for 2025 - 29.12.2025, working hours 09:00 - 18:00 1 Zlatovrah St., Sofia 1164 Phone: 02 / 4008 201 E-mail: info@karoll.bg Office Pl. Vazrajdane – Sofia, last working day for 2025 - 23.12.2025, working hours 09:00 - 18:00 57 Hristo Botev Blvd., Sofia 1303 Phone: 02/4008 264 E-mail: info@karoll.bg
Burgas Office - last working day for 2025 - 19.12.2025, working hours 09:00 - 18:00 75 Slavyanska St., 1st floor, office 2 Mobile: 0895 / 559 237 E-mail: office_bourgas@karoll.bg
Varna Office - last working day for 2025 - 23.12.2025, with working hours 09:00 - 18:00 20 Preslav St. Phone: 052 / 617 919 GSM: 0895 / 559 236 E-mail: office_varna@karoll.bg
The first working day for all offices of Karoll AD in 2026 will be January 5, 2026.
Reminder of other important changes related to the introduction of the euro as the official currency in the Republic of Bulgaria:
Double designation
Until August 8, 2026, Karoll AD will double designate the amount of fees and commissions for the services provided. The dual-label tariff is published on the website of Karoll AD - https://karollbroker.bg/bg/taksi-i-komisioni and is available in the offices of the intermediary, and upon request it is provided free of charge on paper or on another durable medium to the client.
It is important to know that with regard to client accounts, previously maintained in a currency other than BGN, for which the reporting information and the relevant fees and commissions were in a currency other than BGN, the requirements for dual-labeling do not apply. For these accounts, the reporting and charging of fees and commissions remain the same as they were before the introduction of the euro.
Dual circulation
Until 01.02.2026, banknotes and coins in BGN continue to be legal tender on the territory of the Republic of Bulgaria. During the period of dual circulation, Karoll AD will accept cash payments in both levs and euros and will return the balance in full in euros, provided that they have sufficient funds.
From the first day of the introduction of the euro, all non-cash payments will be made only in euros.
It is important to know that according to the Law on the Introduction of the Euro in the Republic of Bulgaria, investment intermediaries do not exchange banknotes and coins from levs to euros.
Right to information
In the period from 01.01.2026 to 01.01.2027, each client has the right to receive information about the monetary values in connection with the investment and additional services provided to him in levs as of the date of currency conversion. Karoll AD will provide the information free of charge within 7 days of the request. Clients can make the request to the email or contact phone number indicated on the company's website.
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