Bulgaria and the euro a stable ERM-II member for a minimum of two years. While Bulgaria has not formally joined the exchange rate mechanism, the ±15% floating band permitted within ERM II is less restrictive than Bulgaria's current strict peg of 1.95583 BGN to 1 EUR. The lev has been pegged to the euro since its launch, and prior to that was pegged on par to the German Mark. While the currency board which pegs Bulgaria to the euro has been seen as beneficial to the country fulfilling criteria so quickly, the ECB has pressured Bulgaria to drop it as it did not know
Khaleeji (currency) would not be met on time due to the financial crisis and a lack of sufficient cooperation between the GCC member states. In 2010, it was believed that a GCC common currency between the four states of Saudi Arabia, Kuwait, Bahrain and Qatar could proceed for a number of reasons, including: However, as of 2018, no significant developments had been announced. Khaleeji (currency) The Khaleeji ( ) was a proposed name for the common currency of the member states of the Gulf Cooperation Council for the Arab States (GCC). The term 'Khaleeji' is Arabic for "of the Gulf", and is