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BULGARIA People's Republic (1952-1962) - Bulgarian lev [BGM]

1 lev = 100 stotinki

The national currency of Bulgaria was introduced already by the rules of autonomy within the Ottoman Empire. On July 8, 1879 Bulgarian lev (literally lion) [BGO] was introduced and its name was related to Bulgarian Coat of Arms. Until the World War I lev was a part of the Latin Monetary Union based on gold and silver. During World War II lev was pegged to German mark [DER] in ratio 32.75 BGO for 1 DER. In 1944, when Soviet Red Army entered Bulgaria lev was pegged for some time to Soviet ruble [SUG] in ratio 15 BGO for 1 SUG. In October 1945 lev was pegged to American dollar [USD] in ratio 120 BGO for 1 USD, which was corrected in 1947 to 143.25 BGO for 1 USD. Until May 12, 1952 no lev coins were issued. On this date as a result of financial reform aiming to decrease post-war inflation a new lev was created [BGM] and the first modern coins were issued. The new lev was pegged to American dollar [USD] in ratio 6.8 BGM for 1 USD and the exchange of old currency into the new one cleaned Bulgarian savings. The prices of goods were converted in ratio 25 BGO for 1 BGM, but bank account contents in ratio 200 BGO for 1 BGM.

last update: 14 X 2012

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