Bulgaria officially adopted the euro on January 1, 2024, becoming the 21st member of the eurozone and replacing its national currency, the lev, after nearly 140 years. This move signifies deeper economic integration with the European Union, aligning with criteria set by the Maastricht Treaty, including inflation, deficit, and interest rate targets. The eurozone is a bloc of EU countries sharing the euro as their common currency, with monetary policy managed by the European Central Bank, facilitating easier travel and trade within member states.