Bulgaria Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Bulgaria's real effective exchange rate was 116.21 in 2026 (projected), ranked 52nd globally. This represents a 2.6% increase from 2025. Data from BIS, covering 1993–2026.
Overview
Bulgaria's real effective exchange rate stood at 116.21 in 2026, a rise of +2.92 from 2025. Based on recent trends, this figure is projected to reach 116.55 by 2027. Bulgaria ranked 52nd globally.
Bulgaria’s real effective exchange rate (REER) has risen sharply over the 34‑year series, moving from a trough of 45.82 in 1994 to an all‑time peak of 117.93 in 2023, before slipping slightly to 116.21 in 2026, which places the country 52nd in the global ranking. The upward trajectory reflects sustained appreciation of the lev relative to its trading partners, driven by a combination of fiscal consolidation, moderate inflation differentials and the country’s integration into the European Union’s single market. Compared with regional peers, Bulgaria’s REER sits just below Hungary’s 115.03 and Serbia’s 116.68, while remaining lower than Romania’s 121.31, suggesting a competitive position that is still modestly weaker than some neighbors. The modest decline from the 2023 peak indicates that external shocks or policy adjustments, such as a shift in monetary stance or a slowdown in export growth, could temper further appreciation, while continued macro‑stability may keep the REER on a relatively high but stable path.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 117.28 | - | - |
| 2028* trend | 116.92 | - | - |
| 2027* trend | 116.55 | - | - |
| 2026 | 116.21 | +2.92 | #52 |
| 2025 | 113.29 | +2.06 | #51 |
| 2024 | 117.79 | +5.98 | #87 |
| 2023 | 117.93 | +11.12 | #89 |
| 2022 | 112.07 | +10.60 | #84 |
| 2021 | 106.75 | +6.75 | #83 |
| 2020 | 105.34 | +7.99 | #78 |
| 2019 | 102.38 | +5.98 | #69 |
| 2018 | 101.85 | +8.54 | #68 |
| 2017 | 98.55 | +6.56 | #54 |
| 2016 | 97.30 | +5.34 | #45 |
| 2015 | 97.08 | +2.84 | #49 |
| 2014 | 100.18 | +4.91 | #58 |
| 2013 | 100.89 | +5.87 | #61 |
| 2012 | 100.02 | +4.18 | #62 |
Detected Pattern
Analysis
Bulgaria matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Bulgaria's real effective exchange rate was 116.21 in 2026. Ranked 52nd globally. This represents a 2.6% increase from the previous year.
Bulgaria's real effective exchange rate peaked at 117.93 in 2023.
The lowest real effective exchange rate in Bulgaria was 45.82 in 1994.
Bulgaria ranks 52nd globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Bulgaria's real effective exchange rate is projected to reach 116.55 by 2027 based on trend extrapolation.
The real effective exchange rate of Bulgaria in 2026 was 116.21. This ranks 52nd in the world.
Cite this page
@misc{historysaid_bulgaria_reer,
title = {Bulgaria Real Effective Exchange Rate},
url = {https://historysaid.com/bulgaria/reer/},
publisher = {HistorySaid},
year = {2026}
}