The zloty is the official currency in Poland, and it was first introduced in the country in 1950.
Origins and history
In the XIV and XV centuries, a zloty was any foreign currency in gold used in the country (especially from the duchies of Germany and Ruthenia). In 1496 Poland created a national currency equivalent to 30 groschen of Prague, which is polish is called grosz or polski złoty (which means golden Polish).
During the second half of the XVIII, under the reign of Stanisław August Poniatowski the zloty was established as the official currency in the country. Replaced by the Russian rouble (1850-1917) and by the Polish mark (1917-1924), the zloty was introduced again in 1924, after the hyperinflation and the monetary chaos happened in the years following the First World War. The exchange rate was fixed in 1 zloty equalling 100 groszy, or 0.1687 grams of gold or 1.800.000 Polish marks.
After several devaluations, in 1950 a new zloty was entered in the country (PLZ), equalling to 100 old zloties. In 1995 and also due to hyperinflation, the decimal point moved 4 places. This way, 10.000 old zloties (PLZ) were exchanged for 1 new zloty (PLN).
Current Polish zloty coins and banknotes
You can find banknotes of 10, 20, 50, 100 and 200 zlotys in circulation. In 2014 all denominations, except the 200 banknote, were slightly modified, adding new security measures. Find out about all security measures of current zloty banknotes.
Regarding coins, there are 1, 2, 5, 10, 20 and 50 groszy, and 1, 2 and 5 zloties.
Did you know?
- The plural for zloty is zlote.
- The word “zloty” means “golden” in Polish, as the old gold coins which were firstly called like that.
- Grosz comes from the German word “groschen”.
Date of creation:
National Bank of Poland
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