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
Abeille (local currency) reverse. To maintain an individual bill's validity, a "scrip" corresponding to 2% of the banknote value must be paid every six months. (This system, called demurrage, is a form of currency circulation tax and was invented by Silvio Gesell.) Abeille (local currency) Abeille is the name of a community currency started in 2010 in Villeneuve-sur-Lot, France. It is named after the French word for bee. The Abeille program is intended to promote local commerce. The Abeille operates with a fixed exchange rate: = An initiative of a local NGO, "Agir pour le vivant" (Act for the living), the Abeille is