BNB, Retailers Partner for Euro Transition
The Governor of the Bulgarian National Bank (BNB), Dimitar Radev, and the Executive Director of the Modern Trade Association, Nikolay Valkanov, signed a memorandum of cooperation on Tuesday. The agreement aims to support Bulgaria’s transition to the euro, with a focus on public awareness and combating fears of speculative price hikes, CE Report quotes BTA
BNB Deputy Governors Petar Chobanov and Radoslav Milenkov, along with leaders from the Modern Trade Association, attended the ceremony.
Radev emphasized that adopting the euro will reduce currency risks, strengthen investor confidence, and promote financial integration. He highlighted the importance of the memorandum in coordinating efforts with major retail chains to ensure a smooth transition.
Valkanov expressed gratitude for the partnership, assuring that large retailers are prepared for the dual circulation period and will safeguard consumer rights during the transition.
The two institutions also discussed future joint initiatives. The European Commission and the European Central Bank are set to release convergence reports on Bulgaria’s euro readiness on June 4.
