Bulgarian Central Bank buys 2 tons of gold ahead of euro adoption
Sofia, October 11 (Hibya) – The Bulgarian National Bank (BNB) has purchased 66,000 troy ounces (2,053.2 kilograms) of gold as part of preparations for Bulgaria’s transition to the euro.
According to the BNB’s official statement, the transaction was conducted on international markets at current prices and represents less than 1% of the bank’s international monetary reserves.
Following the European Council’s July 8 decision for Bulgaria to adopt the euro starting January 1, 2026, the BNB will be required to transfer its foreign exchange reserves to the European Central Bank (ECB) under ECB rules.
The latest gold purchase ensures sufficient reserves without reducing existing holdings and provides access to Eurosystem income streams.
The World Gold Council emphasized that this is the largest operation undertaken by the BNB since the introduction of Bulgaria’s currency board in 1997.
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