At the end of March 2024, the money in circulation in Bulgaria reached a volume of 28.894 billion BGN, which represents an increase of 2.458 billion BGN, or 9.3 percent compared to the same month of 2023. This is made clear by the latest data of the Bulgarian National Bank (BNB), published on its official page.
However, from the beginning of the year to the end of March, money in circulation decreased by BGN 568.4 million, or by 1.9 percent. In the first quarter, the dynamics of money in circulation follows the seasonality that has emerged over the years, and this period of the year is characterized by a negative emission result, BNB experts explain.
The average value of a banknote in circulation at the end of the first quarter was BGN 48.51, which represents an increase of BGN 0.93 compared to the end of 2023. Compared to the same time last year, by the end of March its value had risen by BGN 2.11, or by 4.5 percent. This is due to the continued increase in the number of BGN 50 and 100 banknotes in circulation and the simultaneous decrease in the number of BGN 10 and 20 banknotes.
Compared to the end of last year, towards the end of the first quarter, the number of banknotes in circulation with a nominal value of BGN 5, 50 and 100 grew, with the largest increase in the share of banknotes with a nominal value of BGN 100 – by 1.09 percentage points. During the same period, banknotes with a nominal value of 10 and 20 BGN decreased. At the end of March, on an annual basis, the number of banknotes in circulation increased by 25.8 million (4.6 percent), and their value – by BGN 2.423 billion (9.4 percent).
According to the conclusions of the BNB, the tendency towards a high annual rate of growth in the number of banknotes with high denominations (BGN 50 and 100) in circulation is maintained.
By comparison, at the end of 2023, there were 29.8 billion euro banknotes in circulation, corresponding to a total value of 1.57 trillion euros. Compared to a year earlier, the number of euro banknotes increased by 1.2 percent, but their value decreased by 0.3 percent, according to data published on the website of the European Central Bank.
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