[size=85:2we6s4bh]Sofia echo 03 June 2010

Tourists in Bulgaria told to beware of foreign exchange offices

Bulgarian mass-circulation daily Trud has warned foreign tourists in the country to be careful when exchanging their cash for Bulgarian currency.

According to the report, certain foreign exchange offices along the Black Sea and mountain resorts, as well as hotels, will offer significantly lower exchange rates for foreign currencies. Such establishments also operate on Sofia's Vitosha Boulevard.

Hotels along the seaside reportedly buy one euro for 1.80-1.90 leva, depending on the location of the office, Trud said. Such bureaus de change are making profits on the backs of unsuspecting tourists at the seaside as well as at winter resorts and in central locations in large cities, the report said.

In some cases, such exchange offices used misleading advertising billboards that appeared to show a legitimate exchange rate, while the actual exchange rate was written in small print, Trud said.

The lev is pegged to the euro with the official exchange rate at 1.95583 leva, although foreign exchange offices are legally allowed to offer buy/sell rates within a variation band of no more than five per cent higher or lower than the official rate.

Hi ,

My advice is foreigners to exchange their money just in Banks. Another risk is when you exchange your currency in hotels or shops for example is you to be given dud Bulgarian leva.