We will be in Bulgaria in a few months and curious if anyone has any experience with the transition to the Euro that was to take place Jan 1. Is it fully implemented such that ATMs, vendors etc are all pricing in Euros and accepting Euro currency/. And for extra credit, has it done anything to the cost of goods and services? Thank you kindly.
Posted by
Eastern Iowa, USA
9181 posts
No "on the ground" experience, but these transitions are fairly well prepared and the availability and use of the euro is immediate (Jan 1). There was a transition period of using both the euro and the Lev, but that was only a month and ended Jan 31. So yes, fully implemented in all aspects.
As for costs, in these transitions, yes, the common complaint is that prices go up. Merchants are quick to pass on any increases they have seen over time, to blame the currency change rather than supply costs or their own decision to raise prices. Some are due to rounding, particularly for smaller value items, easier to price in round euros than, "0.87" euro. Other merchants bank on even many locals being unfamiliar with the euro and relative value to old prices (Though many likely used the euro regularly)
There likely are anti-gouging measures in place, and after a while, market forces temper any changes. You personally may not even notice, Bulgaria, on average, has always been a lower cost country for many daily needs compared to the US. If your 15 euro dinner was the equivalent of 12 or 13 euro a few months ago, you really will not care, or know. An Edit: My point being that 15 euro will still seem like a bargain compared to expectations, a local may see it different.
Posted by
OP
Palmetto State USA
83 posts
Thanks for the insight!