INDEPENDENT BULGARIAN ESTATE AGENTS

   Bulgaria always was a relatively cheap country for tourists and, despite the shift to a market economy, most of life's essentials cost considerably less here than they do in the West. The outlook is less bright for Bulgarians themselves, whose living standards have been eroded by inflation, and who count themselves lucky if they earn US$100 a week.

   While visitors to big cities or package resorts could probably subsist on a mixture of bank cards and travellers' cheques, anyone planning to travel around the country - especially in rural areas - will need to carry the bulk of their funds in cash (preferably US dollars and/or Euros, in a mixture of high and low denominations). To minimize the security risk, always carry your funds in a discreet moneybelt worn under your clothing, Visitors to Bulgaria must declare foreign currency in excess of US$1500 on arrival and departure. Failure to do so will result in a fine, confiscation and possible prosecution.

Costs
   Despite price rises and comparatively high costs in Sofia, Plovdiv and along the coast, the essentials remain inexpensive. If you're camping and buying food in local markets, you can live on US$25 a day. Staying in modest hotels or private rooms and eating out regularly, US$50-60 should be sufficient, while on a daily budget of US$70 or above you can enjoy a very good life, staying in mid-range hotels and taking taxis every where. Only if you require business-class accommodation will you need more than that.
   The most unpredictable factor is the cost of accommodation, which varies from region to region, as well as depending on the facilities, age and ownership of the place in question. Private rooms and B&Bs can cost anywhere from US$10-20 per person and hotels are equally variable, with two-star places costing from US$15-30 per person, three-star hotels from US$50-90, and four-and five-star establishments from US$100-150. There is less variation in the cost of hostels (US$5-10), mountain huts (US$6-10) and campsites (US$5-6), but their standards vary even more.
   Once you've sorted out a bed for the night, your remaining daily costs can be very low. Public transport is cheap, with flat fares of about US$0.40 on most urban transport and inexpensive rates on intercity buses and trains: travelling second-class by train, you can cross the entire country from east to west for US, though international services to neighbouring countries are another matter. Providing you avoid deluxe hotel restaurants, eating should likewise prove economical. An aver age evening meal with drinks will set you back US$18, less if you stick to standard local food such as simple grills and salad. Drinking Bulgarian wine or spirits (about US$3 and US$5 a bottle respectively) will hit your liver harder than your wallet, and snatching a quick cup of coffee or a sand wich won't set you back more than about US)0.60.
   Most museums and tourist attractions charge foreigners about five times the amount paid by the natives, and with rates averaging US$2-3, and a few places charging as much as US, they can become a significant expense if you're on a very low budget. Note also that museum entry fees less than US are not cited in the guide.

Currency
   The Bulgarian currency is the lev (plural leva), which is divided up into 100 stotinki. In response to the runaway inflation of the 1990s, the currency reform of 1999 knocked three noughts off the value of the lev (so that 1000 old leva became 1 new lev), and you should bear in mind that pre-1999 notes and coins are no longer legal tender. Try and familiarize yourself with the new notes as soon as possible, thereby minimizing the risk of being fobbed off with old ones in exchange bureaux or market stalls. Notes come in denominations of 200, 100, 50, 20, 10, 5, 2 and 1 leva; while coins come in denominations of 2 and 1 leva, and 50, 20, 10, 5, 2 and 1 stotinki. In 1999 the lev was pegged to the Deutschmark (at a rate of 1:1) and, minor fluctuations aside, has remained relatively stable against Western currencies ever since.
   Although almost all goods and services can be paid for in leva, hard currency (known as valuta) is often required when buying international bus and airline tickets. In the case of hotels, however, although they may quote prices in US dollars or Euros, many prefer payment in the leva equivalent. For simplicity, we give dollar prices through out the guide; note that US is currently equivalent to 1.5Lv).

Banks and exchange
   Although the value of the lev is now determined by market forces, it remains a non-convertible currency, unavailable in banks outside Bulgaria. Inside Bulgaria, you can change money in banks, tourist offices, at reception desks of the bigger hotels, and at private exchange bureaux. There's usually a slight difference in the rates offered, with private bureaux offering the most generous terms - though beware of hefty commission charges, usually written in very small print so you don't notice initially. Hotels offer the worst exchange rates, and should be avoided unless absolutely necessary.
   Bulbank is the biggest of the high street banks, with branches in most Bulgarian towns. Opening hours are usually Monday to Friday 9am-4pm. Private exchange bureaux are usually open until 5 or 6pm (longer in summer), and sometimes 24 hours. Wherever you change money in Bulgaria , it makes sense to request a receipt (smetka) - which can, in theory, enable you to re-exchange surplus leva for hard currency at the frontier before leaving, but don't depend on it. You can usually buy US dollars (and, on occasion, euros and sterling) from bureaux with your excess leva, but the exchange rate may be disadvantageous.

The black market
   The realistic exchange rates now available in banks and private bureaux have all but demolished the appeal of the black market to visitors, but the demand for hard currency among Bulgarians remains strong. "Freelance" money changers may well offer you a slightly higher rate than the best of the exchange bureaux, but it's best to resist the temptation - the vast majority of them are either performing a sleight-of-hand trick or offering you a wad of now worthless pre-1999 leva.

Travellers' cheques and credit cards
   While it's a sensible precaution to carry a percentage of your funds in the form of travellers' cheques, they are certainly not convenient for everyday use, except in Sofia and the coastal and ski package-resorts. Elsewhere you'll be lucky to find a private exchange that will touch them, and even banks can be reluctant to accept any but the particular brand to which they're affiliated. Moreover, the only firm with affiliates in Bulgaria which can issue replacements for lost or stolen travellers cheques is American Express (c/o Megatours, ul. Vasil Levski 21, Sofia; 02/988 4953, megatours@techno-link.com). If you can't find a branch of Bulbank (which accepts any brand bearing the Eurocard or Mastercard logo), a three- or four-star hotel is your best bet for changing cheques. In holiday resorts, be prepared for a commission charge of up to five percent.
   Credit cards can be used to pay for car rental, and at top-notch restaurants and hotels in the major cities and resorts, but can only be used throughout most of Bulgaria as a means of obtaining cash from an ATM. You can in theory get cash advances in leva with Eurocard, Access, Visa, Diners Club and Mastercard, but most banks are still either inequipped to deal with the procedure or simply can't be bothered. Again, Bulbank is likely to be able to handle transactions more efficiently than other banks. Almost all cards can also be used to get cash from ATMs, which are relatively plentiful in city centres but much rarer out in the sticks.

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