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
Islam in Bulgaria Islam in Bulgaria Islam in Bulgaria is a minority religion and the largest religion in the country after Christianity. According to the 2011 Census, the total number of Muslims in Bulgaria stood at 577,139, corresponding to 7.8% of the population. According to a 2017 estimate, Muslims make up 15% of the population. Ethnically, Muslims in Bulgaria are Turks, Bulgarians and Roma, living mainly in parts of northeastern Bulgaria (mainly in Razgrad, Targovishte, Shumen and Silistra Provinces) and in the Rhodope Mountains (mainly in Kardzhali Province and Smolyan Province). The first documented Muslim contacts with Bulgaria are dated to the mid-ninth