BGN (Bulgarian Lev)
- The currency abbreviation or currency symbol for the Bulgarian lev (BGN). The Bulgarian lev is made up of 100 stotinki. The Bulgarian name comes from the archaic Bulgarian word "lev", which can be translated to mean "lion". BGN is expected to be replaced by the euro in 2012.
Also known as the "Bulgarian leva".
The Bulgarian lev was first introduced in 1881 with a value equivalent to 1 French franc. Since then, the lev has been replaced three times. The first replacement came shortly after WWII finished, due to rampant wartime inflation. In 1952, the second lev replaced the original at a rate of 100 to 1. This new lev was pegged to the U.S. dollar at a rate of 6.8 lev to 1 U.S. dollar. This fell in 1957 to 9.52 lev. The lev was replaced again in 1962 at a rate of 10 to 1, setting the new U.S. dollar exchange rate at 1.17 lev to 1 U.S. dollar. Because the currency was not freely convertible to non-communist countries' currencies, the actual exchange rate (black market) was much higher.
After the fall of communism, the lev was pegged with the Deutsche mark (DEM) at a rate of 1,000 lev to 1 mark in order to stem inflation and currency devaluation. A third and final redenomination took place in 1999, with the current lev replacing the last at a rate of 1,000 to 1, making it equivalent to 1 mark. With the replacement of the Deutsche mark with the euro, lev's peg has effectively been set at 1.95583 lev = 1 euro, the Deutsche mark's fixed exchange rate with the euro.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Bulgarian lev — Infobox Currency currency name in local = български лев bg icon image 1 = 1lev.jpg image title 1 = 1 lev coin (2002) image 2 = 2 lev 1999 obverse.jpg image title 2 = 2 leva iso code = BGN using countries = BGR inflation rate = 7.8% inflation… … Wikipedia
BGN — is a three letter acronym of:* BiGlycaN, a protein * Bulgarian lev, ISO 4217 code for the currency of Bulgaria * United States Board on Geographic Names * Ben Gurion International Airport (IATA code: TLV and ICAO code: LLBG) * Blessed George… … Wikipedia
Bulgarian National Bank — This article is about the bank. For the computer game, see BnB. Bulgarian National Bank Българска народна банка (Bulgarian) Balgarska narodna banka … Wikipedia
BGN — The current ISO 4217 currency code for Bulgarian Lev. Bloomberg Financial Dictionary … Financial and business terms
Lev (moneda) — Лев en búlgaro Moneda de 50 BGL del año 1989 Código … Wikipedia Español
Bulgarian National Bank — Banque nationale de Bulgarie Banque nationale de Bulgarie Българска народна банк Balgarska narodna banka Siège Sofia ( … Wikipédia en Français
International status and usage of the euro — Worldwide use of the euro and US$: Eurozone … Wikipedia
Commemorative coins of Bulgaria — Republic of Bulgaria Република България ISO 3166 code BG … Wikipedia
Болгарский лев — У этого термина существуют и другие значения, см. Лев (значения). Болгарский лев (рус.) Български лев (болг.) Bulgarian Lev … Википедия
European Commission roaming regulations — European Union regulation: Regulation (EC) No 717/2007 Regulation on roaming on public mobile telephone networks within the Community (Text with EEA relevance) Made by … Wikipedia