LABZ to BGN Converter and calculator


Conversion rates
Convert LABZ to BGN
Convert BGN to LABZ
LABZ to BGN chart
LABZ to BGN conversion data: Volatility and price changes of Insane Labz in BGN
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.001391 BGN | 0.001391 BGN | 0.001395 BGN | 0.04113 BGN |
Low | 0.001348 BGN | 0.001236 BGN | 0.0009609 BGN | 0.0009492 BGN |
Average | 0 BGN | 0 BGN | 0 BGN | 0 BGN |
Volatility | % | % | % | % |
Change | -1.63% | +7.53% | -0.30% | -96.91% |
Insane Labz information
LABZ to BGN market statistics
Current LABZ to BGN exchange rate
Insane Labz to Bulgarian Lev is rising this week.More info about Insane Labz on Bitget
Bulgarian Lev information
About the Bulgarian Lev (BGN)
What Is the Bulgarian Lev (BGN)?
The Bulgarian Lev, abbreviated as BGN and often denoted by the currency sign" лв", is the official currency of Bulgaria. BGN is a fiat currency, which is government-issued currency not backed by a physical commodity but rather by the government that issued it. The name 'lev' means 'lion' in old Bulgarian, symbolizing strength and valor. It is divided into 100 stotinki, reflecting the currency's precision and stability. The Bulgarian Lev is the sole legal tender in Bulgaria, and it is used for all transactions within the country.
The Bulgarian Lev is issued by the Bulgarian National Bank, which is the central bank of Bulgaria. The Bulgarian National Bank is responsible for the issuance and regulation of the nation's currency, as well as overseeing monetary policy and maintaining financial stability in Bulgaria.
What Is the History of BGN?
The lev was introduced in 1881, mirroring the value of the French franc. It underwent various transformations, including changes in its gold and silver backing and its pegging to other currencies like the German Reichsmark and the Soviet ruble. Post-World War II inflation led to the introduction of a new lev in 1952, pegged to the U.S. dollar. Subsequent redenominations in 1962 and 1999 aimed to stabilize the currency amidst fluctuating economic conditions, reflecting the country's efforts to maintain economic stability.
The most recent redenomination in 1999 pegged the lev to the Deutsche Mark, and later to the euro, at a fixed rate of 1.95583 BGN to 1 EUR. Bulgaria's accession to the EU in 2007 and its participation in the ERM II since 2020 are significant steps towards adopting the euro, expected in 2024.
Notes and Coins of BGN
The banknotes are available in denominations of 1, 2, 5, 10, 20, 50, and 100 leva, featuring prominent Bulgarian historical figures and landmarks, symbolizing the nation's pride and history. The coins, known as stotinki, come in smaller denominations of 1, 2, 5, 10, 20, and 50 stotinki, and 1 lev, showcasing intricate designs that often include the Madara Rider, a UNESCO World Heritage Site, and other national symbols.
Is BGN Pegged to EUR?
Yes, the Bulgarian Lev (BGN) is pegged to the Euro (EUR). The peg is set at a fixed exchange rate of 1.95583 BGN to 1 EUR. This fixed rate has been in place since the redenomination of the lev in 1999, when Bulgaria aligned its currency with the Deutsche Mark, which was subsequently replaced by the Euro.
Will Bulgaria Adopt the Euro as Its Currency?
As of January 2024, Bulgaria is on track to adopt the Euro as its official currency. Having joined the European Union in 2007, the country made a significant step by entering the Exchange Rate Mechanism II (ERM II) in July 2020. This is a crucial stage in the process of adopting the Euro, requiring Bulgaria to maintain economic stability and meet the European Union's convergence criteria. The Bulgarian Lev is currently pegged to the Euro, which is a part of aligning Bulgaria's monetary policy with that of the Eurozone. The exact date when Bulgaria will fully adopt the Euro depends on meeting all the necessary economic requirements and obtaining approval from the European Union's institutions.
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LABZ to BGN Conversion tables
Amount | 18:38 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 LABZ | лв0.0006789 | лв0.0006901 | -1.63% |
1 LABZ | лв0.001358 | лв0.001380 | -1.63% |
5 LABZ | лв0.006789 | лв0.006901 | -1.63% |
10 LABZ | лв0.01358 | лв0.01380 | -1.63% |
50 LABZ | лв0.06789 | лв0.06901 | -1.63% |
100 LABZ | лв0.1358 | лв0.1380 | -1.63% |
500 LABZ | лв0.6789 | лв0.6901 | -1.63% |
1000 LABZ | лв1.36 | лв1.38 | -1.63% |
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