Media Blog
Get The Most Value When Exchanging Bulgarian Currency
Lev is the currency unit of Bulgaria. Lev is used in daily transactions though it should be noted that since Bulgaria is already a part of European Union, using Euro in currency exchange international or in huge purchases like land or property are quite common.
If your holiday destination is Bulgaria then you need the Lev currency. But the question is where you can have the higher exchange rate for your Chinese Yuan or whatever type of currency unit you have. You would commonly have four choices:
- Home Country
- Departure Airport
- Arrival Airport
- Resort in Bulgaria
Let us exclude the three choices from the list. You should not purchase Bulgarian money in your country or airport. The exchange rate at the airport is always terrible. They know that the market is poorly informed and they take advantage of it. There are airports offering rates that are 40% lower compared to the best exchange rate, which shows a very big difference and will badly affect your spending capacity thereby affecting the amount you spend on your vacation or holiday.
This leaves us a single option, which is to purchase Lev currency in Bulgaria aside from Bulgarian airports.
But you will immediately discover that tourist spots have all kinds of establishments offering Bulgarian money. From small exchange booths, to shops, to banks, you will be able to encounter different exchange rates.
Learning to analyze the exchange rate of Lev is important. You must check the buying rate, not the selling rate. Publishing wrong rate is a huge scam.
If you are planning to exchange your money into Bulgarian currency then “buy” rate is what you want. You will need the “sell” rate if you want to exchange your Bulgarian money into your currency unit. If you are planning to go on vacation or spend on something, you should not choose the selling rate.
Some of the unfavorable exchange booth tricks include publishing the “sell” rate instead of “buy” rate. This often makes the rate higher compared to the other exchange rates but you can only benefit from this if you were to sell your Bulgarian currency into own money or currency unit. The “buy” rate is what you will get, which is frequently very low compared to other places and 50% lower than the normal rate.
Therefore, if you want to get the best rate offer when exchanging your money to Bulgarian currency or Lev, “buy” rate is what you must look for.