Currency and Inflation
See also: Bulgaria and the euroBulgaria’s unit of currency is the lev (pl., leva). In October 2006, the U.S. dollar was worth 1.57 leva. In 1999 the value of the lev was pegged to that of the German deutsch-mark, which was replaced by the euro in 2001. Following Bulgaria’s admission to the European Union, the lev is scheduled to be replaced by the euro.
In 2003 Bulgaria’s inflation rate was estimated at between 2.3 and 3 percent. The rate was 6 percent in 2004 and 5 percent in 2005.
Read more about this topic: Economy Of Bulgaria
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“There is no legislation—I care not what it is—tariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (1857–1930)