Bulgaria C-Bank Withdraws from Circulation One-Lev Note

The one-lev note will cease to be a legal tender in Bulgaria from next year, according to a decision of the country's central bank.

The banknote in red and yellow depicting St Ivan Rilski on its front and Rila Monastery on its back was issued in July 1999. The Bulgarian National Bank (BNB) replaced the note by a coin of the same denomination in 2002 but the note has remained a legal tender in parallel with the coin.

The BNB said on its website that the one lev-note will be withdrawn from circulation as of 1 January 2016 but the bank will continue to exchange those notes at its desks free of charge and for an unlimited period of time.

A coin of two Bulgarian levs was put into circulation earlier this month, replacing the banknote of the same face value.