Bulgaria's C-bank Unveils Two-Lev Coin
Thursday, 20 November 2014
Bulgaria's central bank on Wednesday said it approved the design of a two-lev coin that will replace banknotes of the same face value next year.
The 2-lev coin will be slightly larger than the current 1-lev coin and will portray Saint Paisius of Hilendar, a key figure of the Bulgarian National Revival depicted on the 2-lev note. The same approach was applied when the 1-lev note portraying St Ivan of Rila was replaced several years ago by a coin of the same face value depicting St Ivan.
The Bulgarian National Bank (BNB) said last year that the replacement of 2-lev notes was needed because small-denomination notes were used more intensively in circulation and wore out faster than notes of higher denomination, which increased printing costs per note.
The central bank will additionally announce when it will put into circulation the new 2-lev coin. 2-lev notes issued in 1999 and 2005 will remain legal tenders alongside the new coin, the BNB said.