The Bulgarian Leva (BGN) is the official currency of Bulgaria, subdivided into 100 stotinki. It has been pegged to the euro at a fixed rate of approximately 1.9558 BGN per EUR since 1999 through a currency board arrangement managed by the Bulgarian National Bank. This peg provides exchange rate stability and low inflation. Bulgaria has been working toward adopting the euro, and the lev's fixed relationship with the euro effectively means it moves in lockstep with the single currency.
Example
“Because the Bulgarian Leva is pegged to the euro, trading EUR/BGN offers virtually no opportunity for speculative forex plays.”