Posts Tagged ‘currency’

Currency and Coinage

Tuesday, February 19th, 2008


Bulgarians denominate their currency in lev. Right now, the lev is pegged to the Euro, at a 2:1 ratio. This means that, while prices aren’t as bad as they’d be at 1:1, they’re a lot higher than they were fifteen years ago, when Bulgaria went through a currency restructuring.

As far as I can tell, Bulgaria doesn’t have a one lev note. It appears that a single lev can only be had in coin form. If I remember correctly – it’s been 20 years – the UK has one quid coins as well. I wonder if this is true of Euros, Yen, etc.

The interesting thing about having your base denomination in coin is that the 2 ‘x’ denomination becomes more useful. I don’t think I’ve ever used a $2 bill, but I use 2 lev notes all the time. It seems natural, since they’re the lowest denomination of bill. One other side effect is that I pay attention to my coins. In the US, I just throw them in a bucket. Not here. I might throw away a “1”!