Polish złoty
Currency of Poland / From Wikipedia, the free encyclopedia
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The złoty (alternatively zloty;[3] Polish: [ˈzwɔtɨ] i;[4] abbreviation: zł; code: PLN) is the official currency and legal tender of Poland. It is subdivided into 100 grosz (gr).[lower-alpha 1] It is the most traded currency in Central and Eastern Europe and ranks 21st most-traded in the foreign exchange market.[5][6]
| Polski złoty (Polish) zł | |||||
|---|---|---|---|---|---|
| |||||
| ISO 4217 | |||||
| Code | PLN (numeric: 985) | ||||
| Subunit | 0.01 | ||||
| Unit | |||||
| Unit | złoty | ||||
| Plural | See Name and plural forms | ||||
| Symbol | zł | ||||
| Denominations | |||||
| Subunit | |||||
| 1⁄100 | grosz | ||||
| Symbol | |||||
| grosz | gr | ||||
| Banknotes | |||||
| Freq. used | 10 zł, 20 zł, 50 zł, 100 zł, 200 zł | ||||
| Rarely used | 500 zł | ||||
| Coins | 1 gr, 2 gr, 5 gr, 10 gr, 20 gr, 50 gr, 1 zł, 2 zł, 5 zł | ||||
| Demographics | |||||
| User(s) |  Poland | ||||
| Issuance | |||||
| Central bank | National Bank of Poland | ||||
| Website | www | ||||
| Mint | Polish Security Printing Works [pl] Mennica Polska | ||||
| Website | |||||
| Valuation | |||||
| Inflation | 10.1% (YoY, August 2023)[1] | ||||
| Source | Narodowy Bank Polski[2] | ||||
| Method | CPI | ||||
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The word złoty is a masculine form of the Polish adjective 'golden', which closely relates with its name to the guilder whereas the grosz subunit was based on the groschen, cognate to the English word groat. It was officially introduced to replace its predecessor, the Polish marka, on 28 February 1919 and began circulation in 1924. The only bodies permitted to manufacture or mint złoty coins and banknotes are Polish Security Printing Works (PWPW), founded in Warsaw on 25 January 1919, and Mennica Polska, founded in Warsaw on 10 February 1766.
As a result of inflation in the early 1990s, the currency underwent redenomination. Thus, on 1 January 1995, 10,000 old złoty (PLZ) became one new złoty (PLN). As a member of the European Union, Poland is obligated to adopt the euro when all specific conditions are met, however there is no time limit for fulfilling all of them.