Polish Złoty

The new złoty ( PLN ,) is the principal monetary unit of the Poland since 1924. The złoty is divided into 100 groszy.

January 1st, 1995, the new złoty replaced the old złoty following the Hyperinflation of the beginning of the Années 1990 during: 1 PLN = 10.000 PLZ

The złoty term means “gold literally”.

History of the Polish złoty

The złoty was introduced in 1924 after hyperinflation and the monetary chaos which followed the First World War. It then replaces the Polish Mark used since 1919. A złoty is worth 1.800.000 Polish marks then.

The monetary policy falls within the competence of the National Bank of Poland (NBP), which is chaired since the January 11th 2007 by Sławomir Skrzypek.

The foreign exchange rate of the złoty to the February 16th 2005 was of 3,9765 złotych for a Euro and of 3,0560 złotych for a American dollar.

The interest rate of reference to the February 16th 2005 was of 6,5%.

The passage to the Euro

The adhesion of the Poland to the European Union in 2004 implies an adoption of the Euro in the long term, since the country takes again without exemption all the former European treaties: Maastricht, Amsterdam and Nice. Poland cannot thus derogate from the single currency, contrary to the Denmark and the the United Kingdom, negotiators and signatories of the preceding treaties, which obtained a particular clause. However, the date of adoption of the euro being unspecified, its introduction will probably not be made before 2010.

Polish coins

Parts of Rzeczpospolita Polska (1944-1949)

The series of 1949 counts two series of parts:
  • the part (1949) of 1 aluminum Grosz
  • the part (1949) of 2 aluminum Grosz
  • the part (1949) of 5 bronze Grosz
  • the part (1949) of 10 cupronickel Grosz
  • the part (1949) of 10 cupronickel Grosz
  • the part (1949) of 20 cupronickel Grosz
  • the part (1949) of 50 cupronickel Grosz
  • the part (1949) of 1 cupronickel złoty
and a second, in which all the parts are out of aluminum
  • the part (1949) of 5 aluminum Grosz
  • the part (1949) of 10 aluminum Grosz
  • the part (1949) of 20 aluminum Grosz
  • the part (1949) of 50 aluminum Grosz
  • the part (1949) of 1 aluminum złoty

Parts of Polska Rzeczpospolita Ludowa

  • the part (1958-1971) of 5 aluminum Grosz
  • the part (1961-1968) of 10 aluminum Grosz
  • the part (1957-1972) of 20 aluminum Grosz
  • the part (1957-1974) of 50 aluminum Grosz
  • the part (1957-1974) of 1 aluminum złoty
  • the part (1958-1973) of 2 aluminum złotys
  • the part (1958-1972) of 5 aluminum złotys

Series of parts in circulation

  • 1 grosz
  • 2 grosze (plural Polish: grosze )
  • 5 groszy
  • 10 groszy
  • 20 groszy
  • 50 groszy
  • 1 złoty
  • 2 złote (bi-metallic)
  • 5 złotych (bi-metallic)

Banknotes Polish

  • 10 złotych (plural Polish: złotych )
  • 20 złotych
  • 50 złotych
  • 100 złotych
  • 200 złotych

Polish orthography

Polish plural builds from that of French differently: thus one finds the indications following on the tickets or the parts:
  • 1 złoty - 2 złote - 5 złotych
  • 1 grosz - 2 grosze - 5 groszy
Note: in the article above, plurals were francized (as in all the articles relating to the monetary units).

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