Banknote Book & CPG® PRICE GUIDE
- World Currency /
- Bulgaria /
- Bulgarian National Bank
Catalog & market information for bank notes issued by Bulgarian National Bank
On 25 January 1879, the Russian emperor’s commissioner in Bulgaria, Knyaz Dondoukov-Korsakov, signed the draft Articles of Association for the foundation of the Bulgarian National Bank (BNB), which began operations on 6 June of the same year. On 4 June 1880, the Second Ordinary National Assembly adopted the Minting Rights Act, which established the Bulgarian national monetary unit, the lev (archaic Bulgarian: lion), divisible into one hundred stotinki (derived from sto, the Bulgarian word for hundred), and equal to the French franc, in keeping with the specifications of the Latin Monetary Union (a 19th-century system that unified several European currencies into a single currency that could be used in all the member states). The law also adopted a bimetallic ratio between gold and silver of 1:15.5, in conformity with the LMU. Coins were minted in 1881, but it wasn’t until the passage of the Law on the Bulgarian National Bank of 1885 that the bank was granted the exclusive privilege to issue banknotes backed by no less than 1/3 of gold reserves. For more information, visit www.bnb.bg.
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