06/05/2015: Pegged to the euro
The Bulgarian Lev officially became a currency pegged to the euro, maintaining a fixed exchange rate, on May 6, 2015.
31/12/2011: Replacement of 1 Lek coin
The 1 lek coin was demonetized and replaced by a banknote. The decision was made due to the high cost of producing the coin.
01/01/2002: Replacement of notes and coins
New series of notes and coins for the Bulgarian Lev were introduced, replacing the previous designs on January 1, 2002.
08/02/2000: Introduction of new banknotes and coins
A new series of banknotes and coins were introduced, featuring enhanced security features and updated designs.
01/07/1999: Currency board arrangement
Bulgaria implemented a currency board arrangement, fixing the Bulgarian Lev to the euro at a rate of 1.95583 on July 1, 1999.
02/03/1997: Collapse of pyramid schemes
The collapse of pyramid schemes in Albania caused a severe economic crisis, resulting in hyperinflation and a significant devaluation of the lek.
26/06/1992: Transition to a market economy
Albania transitioned to a market economy, leading to a significant depreciation of the lek. The exchange rate changed to 1 lek = 9.3 old lek.
01/10/1965: Introduction of the new lek
A new series of banknotes and coins were introduced, marking the transition to the new lek. The exchange rate was set at 1 new lek = 10 old lek.
15/09/1962: Introduction of the New Lev
The New Lev was introduced as a new currency in Bulgaria, replacing the Lev A, on September 15, 1962.
01/12/1952: Lev replaced by Lev A
The Bulgarian Lev was replaced by a new currency named Lev A on December 1, 1952 as a result of currency reform.
22/12/1947: Albania becomes a communist state
Following the establishment of a communist regime in Albania, the currency underwent a major devaluation, with the exchange rate changing to 1 lek = 12.5 old lek.
01/09/1926: Introduction of the Albanian lek
The lek was introduced as the official currency of Albania, replacing the previous currency, the Turkish lira. The exchange rate was set at 1 lek = 35 Turkish lira.
14/10/1923: Hyperinflation
Bulgaria experienced severe hyperinflation, causing the value of the Lev currency to plummet during the period from 1923 to 1924.
01/04/1881: Introduction of the Lev
The Bulgarian Lev currency was introduced as the official currency of Bulgaria on April 1, 1881.