What is Poland's currency? Polish currency: what kind of money is there in Poland? The beginning of the formation of currency in Poland

Are you planning a trip to Poland? This is great, but we believe that a superficial knowledge of the Polish currency (zloty) may not work in your favor. You don't need to worry! Throw away all the boring, how-to guides and information brochures about Poland and let us turn you into an expert on the topic of Polish money. We hope that after reading this article, you will definitely become one!

What kind of money is in Poland

When going on a trip abroad, any tourist will be puzzled by the question: what money is the official currency in the country. For eurozone countries, this issue is also relevant. Despite the introduction of the euro into cash in 2002, not all countries accepted it into circulation. Poland is one of eight countries that still maintain their own currency.

Now in Poland zlotys and groschen are in use (if we speak in the language familiar to Russian people: Polish “kopecks”, 1 zloty = 100 groschen), these are paper money and coins. Portraits of Polish crowned heads are depicted on the banknotes, and the state coin is minted on metal money. Banknote 20 zloty 1994
10 zloty coin 1960

The generally accepted currency designation code is PLN.

Exchange rates in Poland

The import of money into Poland is not limited to specific amounts, no matter what monetary unit we are talking about. But if we talk about a certain currency, then it is more profitable to have euros and/or dollars with you. You are more likely to exchange them for zlotys at a favorable rate than, for example, rubles. The exchange rate to the ruble in Poland is extremely unfavorable.

Currency exchange methods:

• at the airport, in banks and exchange offices. You should be careful: there are private exchange offices in the country; if possible, it is better to avoid them. And although it is safer to make an exchange at such points than simply buying zlotys in person, there is still a chance of encountering fraud. Before the operation, it would be a good idea to ask the cashier how much you will receive and whether a commission will be charged.
• At ATMs you can withdraw funds from Visa and MasterCard plastic cards. Find out in advance whether your bank charges a fee for this. Perhaps this type of exchange will be unreasonably expensive.

Please note that the exchange rate at train stations can be significantly lower than in the city center. The exchange rate is usually indicated on a board next to the bank entrance or cash window. However, not all banks provide this service. To be sure of the adequacy of the proposed exchange rate, check it with the rate on the website of the National Bank of Poland.

Immediately before your trip, you should make sure that when entering the country you have some cash already in local currency. Especially if you arrive on a weekend. On non-working days, you can change money in Poland either illegally “from your hands” or at exchange offices, but at an unfavorably low rate.

However, if for some reason it was not possible to exchange cash for zlotys, but you have euros on hand, you can use cash desks specifically for transactions with this currency. These are available in many stores. And, of course, no one has canceled the convenience of using cashless payments: plastic Visa and MasterCard will help you!

How to transfer money to Poland from Russia

This question will arise if you are in Poland, and there is a need for funds that you did not initially foresee spending. Or if such a situation happened to your loved one and you have to transfer money from Russia. It is important to find the most profitable and convenient option if shipments are regular.

You can send money to Poland without leaving your computer or by visiting a payment acceptance point. Money transfers here, as well as to any other point in the world, are sent in three ways: through a bank, an international money transfer system or an electronic payment system.

According to many years of experience of those who regularly transfer money from Russia to Poland, it is most convenient to use the services of Western Union and Contact. It is also possible to transfer through a bank, but it is necessary to take into account many conditions under which this transfer can be carried out, including the citizenship and residence of the sender and recipient. If you are not looking for hassles, electronic payments and international transfers are what you need.

When sending via Western Union and Contact, you will need to visit their website and find the nearest service point for you and the recipient. Write down their coordinates and go to the selected shipping address, taking your passport with you. After specifying all the recipient's details and payment, you will be given a unique code, upon presentation of which the recipient will be issued a transfer. Don't forget to tell the code to the person for whom the money is intended!

If the sender and recipient of the transfer have electronic wallets, it will not be difficult to transfer money using this system. And then the need to visit service offices will disappear by itself. The transfer fee is charged to the sender. It’s up to you to choose how best to transfer money to Poland.

How to send money from Poland to Russia

Today there are many ways to transfer money from Russia to Poland and back, and it can be done literally in a matter of minutes. True, the high speed of receiving sent funds, as a rule, requires the sender to pay a significant fee to the transfer system. Let's look at several options for moving money from Poland to Russia, some of which work “both ways” and we discussed them above.

• Western Union. Expensive, but reliable and fast way to transfer money abroad. The cost is about 20 zlotys for every hundred dollars. A significant advantage of this system is its extensive network of branches. The addressee will be able to receive money in a currency convenient for them.
• MoneyGram. Allows you to send money to Russia for approximately the same commission as the above-mentioned system. There are significantly fewer branches that will accept your transfer, but there are some nuances. Zlotys or dollars are sent, but only dollars or euros are received by the recipient. At the same time, the system has its own exchange rate. Bank BPS and Bank BGZ BNP Paribas and some post offices work with it.
• CONTACT. An affordable way to transfer money: a contract with Polish Post allows you to send it through any branch. The main advantage of this system is accessibility. You can send money at any branch of the Polish Post. They will accept your zlotys, and the recipient will be given euros. The commission will also be considerable: 23 zlotys + 1% of the amount. However, when transferring large amounts, such a commission is more profitable.
• SWIFT. A system that makes it convenient to transfer significant amounts of money. They are sent from a Polish card non-cash through an international payment system to the current account of the recipient's bank. The conditions are dictated by the sender's bank, and the time for funds to be credited occurs within a week. Another feature of SWIFT transfers is their targeting. Most often, sending transfers via international money transfer systems does not limit the recipient to the place of payment of the transfer, but using the SWIFT transfer system, payment of the transfer is carried out in a specific bank, according to the details specified in the payment order. This transfer is as safe as possible.
• TransferWise. A money transfer from Poland through this service will cost 6.85 zlotys for amounts up to 350 zlotys and 1.96% of amounts over 350 zlotys.
• Electronic payment systems. These are Skrill, Neteller, WebMoney, PayPal, Payoneer, PerfectMoney. Transferring money through them is profitable: commissions in these systems are minimal and they go through quickly, but many give in to the intricacies of registration: you need to go through verification, link your bank card to an electronic wallet. This takes time and requires providing detailed information about the sender.

How to transfer money to Ukraine from Poland

In this part of the article we will look at the difference between the most common services for transferring money from Poland to Ukraine. There are many articles on the Internet on this topic, but they all often “promote” a specific service. That's why we made a comparison of all these services so that you can choose the best translation method for yourself.

• Transfer from PKO Bank Polski to Kredobank of Ukraine. The advantage of this service is that the commission is 10 zlotys for a transfer amount of up to 1250 euros. The disadvantages include the need to open a Kredobank card in Ukraine, the inability to send money online and the small number of bank branches. The commission for withdrawing money from ATMs of third-party banks is about 5%.
• TransferGo. For any transfer amount the commission will be 9 zlotys. You can transfer and receive money online without leaving your home. The disadvantage of this service is that you can only receive money on a PrivatBank card.
• MoneyGram. The advantage of this service is that the money is credited to your account within an hour. To do this, just visit any MoneyGram branch. The downside is the double conversion of money: first into dollars, then into hryvnia, the need to go to a branch to make a transfer or pick up money, and a large commission.
• Transfer Wise. Transferring and receiving money online looks like a plus. The downside would seem to be that the exchange rate is not fixed; money in Ukraine can only be received on the card of the aforementioned PrivatBank; according to users of the service, recently there have been cases when money took almost two days to be confirmed. In addition, the commission of this service is quite large.
• Western Union. Its advantage is that the money arrives within an hour. The disadvantages of the service are: double conversion, the ability to pick up cash only at Western Union branches, the need to indicate the origin of the funds when sending.

How to transfer money to Poland from Ukraine

People who regularly transfer money from Ukraine to Poland believe that it is most convenient to use the PrivatMoney services from PrivatBank and RIA.

• RIA. The transfer commission will be 1.5%. The minimum amount for transfer is 4 euros. Sending occurs without currency conversion. The transfer can be made at any branch of the following banks:

1. Universal Bank
2. A-Bank (Accent-Bank)
3. Ibox Bank (Agrokombank)
4. Accordbank
5. Bank Vostok
6. BANK CREDIT DNEPR
7. globe
8. Land Capital
9. Kredobank
10. Oschadbank
11. Pivdenny
12. Pravex-Bank
13. PrivatBank
14. RADABANK
15. TASCOMBANK
16. Ukrgasbank
17. Express Bank

• PrivatMoney. The commission for transfers up to 100 euros will be 2%; possible commissions for transfers over one hundred euros can be found on the bank’s website in the corresponding section. The minimum amount for transfer is 1 euro. Sending occurs without currency conversion. You can transfer money:

1. In the Privat24 system
2. At the self-service terminal
3. In the mobile application
4. At a PrivatBank branch

How much money do you need to go to Poland?

Poland is a country popular not only among tourists. Every year, up to 300 thousand labor migrants come from neighboring Ukraine, Belarus, and Russia. There is a lot written online about how to make money in Poland. There are separate channels with thousands of views on YouTube, with instructions on how and where to get a job for visitors. Which indicates that the flow of those interested does not dry out.

Why do Slavs come here to earn money? There are understandable reasons for this, one of which has already been mentioned: Poland is close. It is relatively easy to obtain a work permit and residence permit here. It is important that the Polish language is related to all Slavic languages, which means it is potentially understandable. Although wages for newcomers are often noticeably lower than for Poles in the same positions, many are satisfied with this. Among other things, Poland is one of the “cheapest” EU countries.

If you are planning to go to Poland for permanent residence, of course, you need to have a financial “airbag” with you. Of course, the more the merrier. And yet it is worth understanding the required minimum, how much money to take to Poland.

An approximate calculation of the required funds “before the first salary”, that is, for a month, in Poland on average looks like this:

• Nutrition. If you are not a gourmet, generally not a picky eater and plan to cook yourself rather than go to cafes and restaurants, the food will cost you 300-400 zlotys. “Experienced migrant workers” say that these expenses can be reduced to 50 zlotys per week. Such savings require strict planning and purchasing products at once for a long time.
• Directions If you do not live close to work and use public transport, on average you will spend 100 zlotys per month on travel (the cost of a travel document).
• Mobile connection. To maintain the opportunity to communicate with loved ones at a distance, this item will be a must on the spending list. You can safely budget 30-50 zlotys for telephone conversations.
• Rental of property. This expense item will be present if suddenly the employer does not provide housing himself. The average cost of renting a 1-room apartment in Poland, depending on its location, ranges from 1,500 to 2,000 zlotys. In Warsaw it is also more expensive.

The total amount is 2000-2500 zlotys. In euros this amount will be approximately 500-550. You may not spend this entire amount in a month. But this will be the supply that your pocket certainly cannot handle.

As noted above, it is better not to bring money in rubles to Poland. Consider exchanging for euros or dollars in advance. And by the way, ordinary tourists may also need cash at the border crossing. They will certainly ask you how long you have come to Poland.

The amount of money you need to have depends on the length of your stay. This mandatory amount consists of the cost of a return ticket and the minimum required amount for a day of stay in the country. The amount of these amounts must be determined individually. Up to three days of stay in the country - 300 zlotys, over three days - 100 zlotys per day.

The lack of money needed to enter the country can be replaced by certificates from the bank where you have this money. The bank must have a representative office in Poland. If you don’t have that kind of money in the bank, an invitation will save the situation, confirming that all expenses for your stay on the territory of the state will be covered by the receiving party.

The zloty (Polish złoty (inf.) - “golden”) is the monetary unit of Poland, and previously of the Polish-Lithuanian Commonwealth. ISO 4217 code is PLN. Divided into 100 groschen. The first 1 zloty coin was minted in 1663 during the reign of King John II Casimir. After joining the Russian Empire, the monetary unit of Poland from 1841 to 1917 was the Polish ruble. After the depreciation of the Polish mark during the first years of Poland's existence as an independent state, the zloty again became the Polish currency. In the 1980s, due to hyperinflation, the zloty depreciated. In 1995 it was replaced by the new zloty.

As of December 2011, banknotes in denominations of 10, 20, 50, 100 and 200 zlotys, as well as coins of 1, 2, 5, 10, 20, 50 groschen and 1, 2, 5 zlotys, are in use. Also legal tender are commemorative coins (made of precious metals) with denominations from 10 zlotys to 1 thousand zlotys.

History of the term "zloty"

Initially, zloty (the name comes from the Polish złoto “gold”) was the name given to foreign minted gold coins that came to Poland, mainly ducats. The first Polish gold ducats were issued in the 14th century. At first, a gold ducat was exchanged in Poland for 13 silver groschen. Over time, the quality of silver coins deteriorated and the silver content of coins fell. In the 15th century, one gold ducat became actually equal to 30 groschen. In the 14th-15th centuries, the name zloty was first used to refer to gold coins, and at the end of the 15th century, this began to be called the national currency. In 1496, the Sejm established the zloty exchange rate equal to 30 silver groschen. The ratio of the value of gold and silver coins changed, and therefore this rate did not last long. At the same time, the zloty remained a monetary unit of account, equal to 30 groschen (or half a kopeck). Gold coins began to be called “red zlotys”

Minting of zlotys

In 1663, during the reign of King John II Casimir, the first silver coin with a face value of 1 zloty (corresponding to 1/3 thaler) was minted. With a total weight of 6.726 grams, it contained only 3.36 grams of pure silver, which was identical to the weight of 12 groschen silver. After the surname of the author of the project for issuing the silver zloty, the German Andreas Tymph, the coin was called “tymph”. Being, in fact, a credit coin, the first zloty, along with the release of copper solids (“boratynok”), led to a complete breakdown of the monetary circulation of the Polish-Lithuanian Commonwealth.

In 1766, King Stanislaw Poniatowski carried out a monetary reform, according to which the Polish-Lithuanian Commonwealth switched to the Cologne foot. It was equal to 233.8 grams of silver, and 10 thalers were minted from it, each thaler consisting of 8 zlotys. The zloty or “zlotowka” was equal to 30 copper or 4 silver groschen.

After the divisions of the Polish-Lithuanian Commonwealth, the name “zloty” fell out of use in the Prussian zone (the mark was used), but in the Austrian and Russian zones it was retained, and in Austria it became one of the names of the common monetary unit (also known as krone, guilder, forint, florin, etc. .: all these names of monetary units were used on old Austrian banknotes in much the same way as karbovanets, manats and sums on Soviet paper rubles), and in the western part of Russia they were used until 1850.

Zloty of the Kingdom of Poland

The Kingdom of Poland, being part of the Russian Empire, minted its own coins with a legend in Polish. Among them were 1 and 3 groschen coins made of copper (until 1841), 5 and 10 groschen coins made of billon (until 1840), as well as silver coins of 1, 2, 5 and 10 zlotys and gold 25 and 50 zlotys].

1 zloty = 30 groschen = 15 kopecks (2 groschen = 1 kopeck).

During the Polish Uprising of 1830–1831, the National Government minted its own "rebel" money from April to August 1831, including silver 2 and 5 zloty coins with the revolutionary coat of arms (1 zloty was only issued as a proof coin). In conditions of an acute shortage of precious metals, paper banknotes were issued in denominations of 1 zloty, with a total circulation of 735 thousand as of August 1831.

After the defeat of the uprising, for a decade the Russian government removed “rebel” coins from circulation (“without violent measures”). Only a few copies have survived to this day. The Warsaw Mint continued minting coins: 1 and 5 zlotys (until 1834), 25 zlotys (until 1833). The issue of 10 zloty coins was discontinued in 1827, 50 zloty coins - in 1829.

In 1832, the minting of Polish coins with double denominations began:
made of silver:
5 kopecks / 10 groszy (trial issue 1842)
10 kopecks / 20 groszy (trial issue 1842)
15 kopecks / 1 złoty (St. Petersburg, 1832-41; Warsaw, 1834-41)
20 kopecks / 40 groszy (Warsaw, 1842-48, 1850)
25 kopecks / 50 groszy (Warsaw, 1842-48, 1850)
30 kopecks / 2 złote (Warsaw, 1834-41)
3/4 ruble / 5 złotych (St. Petersburg, 1833-41; Warsaw, 1834-41)
1 1/2 rubles / 10 złotych (St. Petersburg, 1833-41; Warsaw, 1835-41)
made of gold:
3 rubles / 20 złotych (St. Petersburg, 1834-41; Warsaw, 1834-40).

The minting of double denomination coins was discontinued in 1850. The Russian emperors were depicted successively on the coins of Poland: Alexander I, Nicholas I, Alexander II, Alexander III and Nicholas II. The currency of Poland from 1841 to 1917 was the Polish ruble

Zloty of the Free City of Krakow

In 1815-1846, the city of Krakow was a free city within the sphere of interests of the Austrian Empire. In 1846 it was included in the empire. In 1835, silver coins of 5 and 10 groschen and 1 zloty were issued in Vienna. The design of the coins was the same: on the obverse the coat of arms of Krakow and the legend (“WOLNE MIASTO KRAKÓW” - free city of Krakow) were minted, on the reverse - the denomination and date.

Zloty in the period 1918-1939

The first years of independence were not marked by economic crises. The Polish financial market was not regulated, which was the main problem in those years. By the end of the First World War, several different monetary units were in circulation in Poland. In addition to the Austrian krone, German mark and , which circulated in the corresponding parts of Poland, the ruble and mark were also in circulation, issued by the occupation authorities during the First World War. In 1918, the Polish government decided to replace them with a single currency, the Polish mark.

The name of the new monetary unit of the newly created state was “mark”, by analogy with the German mark. At the time of the introduction of the Polish mark, Poland was in a favorable economic situation. It did not have problems typical of neighboring countries - such as the payment of war reparations in Germany, national heterogeneity in Hungary. Power in Poland was taken by the authoritarian leader Jozef Pilsudski, who led the state until the adoption of the constitution.

Piłsudski came into conflict with the Soviet Union over the possession of Ukrainian territory. The conflict escalated into the Soviet-Polish War. Military spending increased sharply. Government measures to balance the budget were unpopular. In this regard, the government raised taxes slightly. Proposals to reduce government spending also did not suit the upper strata of Polish society.

In 1919, all attempts by the Minister of Finance to stabilize the Polish mark were in vain and the funds he collected in the spring of 1920 went to the war with the USSR. In October 1920, a truce was concluded with the Soviet Union. In 1921, Finance Minister Michalski created his plan to reduce expenses and increase taxes to the treasury. The Sejm accepted this plan, but during the process of its approval by parliament, numerous changes appeared in it. As a result, the implementation of this plan was not successful, and its effect was achieved only for a short time. And then the economy again got out of government control, and by the beginning of the summer of 1923 there was a significant drop in the value of the Polish mark. Inflation reached its peak in 1923. Grabski's government lasted about two years in power and one of its achievements was the monetary reform, as a result of which the mark was replaced by the zloty in 1924 (1 zloty = 1.8 million Polish marks).

The zloty was divided into 100 groschen, and not into 30, as before.

When the zloty was introduced into circulation, it was pegged to the dollar. Parliament was weak, which affected its ability to take the necessary measures to maintain financial stability in the country. Political parties put constant pressure on the government to allocate public funds to non-budgeted expenditure items.

There was a budget deficit and inflation began to increase rapidly. The Polish government sought to reduce the budget deficit and took proactive measures than in the recent past, when the country experienced hyperinflation. To find funds to fight inflation, the government issued securities that were in circulation along with banknotes of the Bank of Poland. By the end of 1925, government obligations on securities became overvalued, the government had no way to repay them, and financial stability in the country was undermined.

Grabsky refused foreign assistance; he did not want to subject the country to control by the League of Nations. The Polish prime minister thought that foreigners themselves would provide loans (and perhaps on more favorable terms) as soon as the national currency became stable. But this did not happen, because European countries did not yet trust the Polish economy and were in no hurry to invest money in it.

While the League of Nations allocated funds to carry out financial stabilization in Austria and Hungary, Poland had to resort to various measures to attract funds to the country. The government decided to sell part of the national property, which was sold on unfavorable terms for the country. This measure was in vain and did not help the Polish economy. The financial market has shown the failure of Grabsky's reform. The result was that the zloty depreciated by half, and Grabsky resigned. Problems began to appear in various spheres of the economy, and not just in the state economy. In 1920, the social insurance system was formed, which was a problem for the government. According to the law, business had additional expenses associated with it, and contributions transferred by workers and employers did not go to the state budget, but to a special fund controlled by the Socialist Party. The Socialist Party put on the agenda the issue of establishing a new conservative regime in the country, allowing for the so-called reorganization. The political crisis that Poland came to after seven years of independence has reached its climax. On November 14, 1925, Pilsudski expressed his concern to the president about the events taking place in the country.

Piłsudski's reforms

In May 1926, Piłsudski, who was also a socialist, carried out a coup d'etat in the country, and it was supported by a large number of workers. In 1926, a rehabilitation mechanism began working in Poland. Józef Piłsudski, who gave up the presidency but had full control of the army, became the country's authoritarian leader and head of government. Indeed, under the reorganization regime, the budget was put in order already in the third quarter of 1926, tax revenues increased sharply, and the policy of the Bank of Poland was brought under stricter government control, which, combined with an external loan taken from the United States, allowed Poland to achieve some financial stability.

As was already the case with Austria and Hungary, a group of experts came to Poland to monitor the progress of stabilizing the economy. The group was led by American professor E. Kemmerer.

The zloty, which began to depreciate in mid-1925, stabilized already in the fall of 1926 (this was facilitated by a significant increase in Polish coal exports), and in October 1927 its rate stabilized somewhat, one and a half times lower than in 1924. Until 1933, the zloty was freely exchanged for gold and foreign currency. The lesson learned during the years of inflation was taken into account by Polish politicians, and Poland introduced gold backing of the national currency.

In 1924-1925 There was a significant outflow of capital from the country. And after the national currency stabilized, deposits in banks began to grow steadily. Most Poles were conservative and kept their savings in German marks. However, after the national currency was stabilized, foreigners began to invest their money in the Polish economy. The economy, starting from the first quarter of 1926, began to develop successfully, thanks to the expanding demand for Polish coal in Great Britain and northern European countries (Germany refused to accept coal from Upper Silesia, which had recently belonged to it, onto its market). There was a factor that somewhat slowed down the economic development of Poland: the overvalued exchange rate of the national currency, the zloty. The consequences of this were not long in coming: In 1926, coal exports were sharply increased. But already in 1927, Polish imports exceeded exports due to rising domestic prices. Exporting goods from Poland became unprofitable due to their high cost, and imports attracted Poles due to the fact that prices for goods abroad became lower than prices at home.

At this time, the Polish economy was already again in crisis, in which it again found itself after a short-term recovery. Due to the fall in production, economic growth stopped, and as a result, the growth that was from 1926 to 1929 was no longer felt. The drop in production was the result of a reduction in exports.

The crisis of the Polish economy lasted for a very long time - until the second half of the 30s. The government took measures to eliminate the budget deficit by reducing expenses not related to the country's defense. In 1931-1933, budget expenditures decreased by a third. Despite this, the budget still remained deficit.

Domestic capital, which came to the treasury in the form of taxes and was supposed to help bring the country out of the crisis, was used to pay off the public debt. The government was forced to pay foreign banks the funds that were needed by the Polish economy. Despite the difficulties, Poland, remembering the recent hyperinflation, did not want to give up the gold backing of the national currency. To stabilize the country's economy, the government needed to reduce imports and increase exports. This was hampered by the overvalued exchange rate of the zloty, which did not allow achieving the desired goal purely through the market, the government increased import customs duties, and special subsidies were provided to exporters.

In 1935, Pilsudski died, which influenced the further history of the country. The military took power. They were faced with the need to regulate the country's economy, which was in crisis. The economy worried the country's leadership. Compared to its neighbors, Poland remained a predominantly agricultural country, in which, according to statistics, 61% of the population (data for 1931) worked in agriculture. The country's government, in order to reform the economy, was considering plans for further government intervention in the country's economy. The result was that by the end of the 30s, national industry began to come under state control. The government nationalized about a hundred enterprises. Thus, already in pre-war times, Poland, like Yugoslavia, came to the complete transfer of the entire economy to the public sector (except for the agricultural sector of the economy), which was subsequently completed by the communists.

Commemorative coins of the 1920s - 1930s

In 1930, a commemorative coin of 5 zlotys was issued, dedicated to the Polish Uprising.

In 1933, 2 commemorative coins worth 10 zlotys were issued: in memory of the uprising of 1863 (the leader of the uprising Romuald Traugut was depicted on the obverse) and with a portrait of John III Sobieski in memory of the defeat of the Turks near Vienna in 1683.

Since 1932, silver coins of 2, 5 and 10 zlotys have been minted with a portrait of Jadwiga, but numismatists have doubts about who is depicted on the coin. Silver coins with a denomination of 2.5 and 10 zlotys, minted from 1932 to 1934, depicting a woman in a headscarf and a clover wreath on her head are associated with the portrait of Queen “Jadwiga”. However, there are no documents proving this. Neither in official documents nor in sources there is a word about Queen Jadwiga on the commemorative coins issued at this time. Vladislav Terletsky, who compiled the 1960 catalog, describes this coin as “The head of a woman in a wreath of clover, to the left, against the background of ears of corn.” And he is a famous collector and it is unlikely that he could not have known that this is a portrait of Jadwiga... In 2006, coins from the “History of the Zloty” series were released with the image of a 10 zloty coin from 1932, and the description of the coin was as follows: “the head of a woman, in a headscarf and with a wreath placed against the background of ears of grain...". And not a word about “Jadwiga”. Today, the name of the coin is “head of a woman” (for coins of 1924-1925 - “girl and ears”).

The author of the coin's design, Anthony Madejski, depicted Nina Morshtynova, the wife of the writer Ludwig Geronim Morshtyn, on the coin. According to another version, the coin depicts the wife of the Polish military attache in Rome, Janina Morstin (1895-1965).
Since 1934, silver coins of 2, 5 and 10 zlotys have been minted with a portrait of Józef Piłsudski.

The last minting of pre-war coins was 1939.

Zlotys from the period of occupation of Poland

During the German occupation (1939–1944), paper banknotes were in circulation: the so-called occupation zlotys of the “General Government” with the same design as the pre-war ones, but with a modified text. The bank in Krakow issued banknotes in 1, 2, 5, 10, 20, 50, 100 and 500 zlotys. Small coins of the pre-war type were also issued, but only zinc and iron. After the liberation of Poland in 1944 and the restoration of its independence, paper money was initially issued in denominations of 1, 2, 5, 10, 20, 50, 100 and 500 zlotys, as well as 1000 zlotys issued in 1945.

Zloty in the period 1944-1980

In post-war Poland, events developed as in other European countries that came to socialism. The first monetary reform occurred in 1944, when the first series of banknotes of socialist Poland was issued. However, the banknotes were not in circulation for long, and the country's government issued new banknotes in 1946, 1947, and 1948. In 1950, the old zlotys were denominated at an exchange rate of one hundred to one, and in 1949 the first Polish post-war coins were minted. The obverse of the coins had the denomination, and the reverse depicted the coat of arms of Poland in the form of an eagle without a crown and the inscription Rzeczpospolita Polska (“Polish Republic”). Banknotes issued in 1948 already represented a stable zloty and were in use until the mid-1970s, when a new series of banknotes was issued. Meanwhile, the following events took place in the Polish economy: In 1946, a law was passed on the nationalization of all enterprises. In agriculture, a new agrarian reform was carried out, as a result of which peasants received additional land plots from the state, and the state began to collectivize the country.

These measures determined the character of the new economic system. Basically, socialist changes affected large and medium-sized enterprises; they were nationalized. Unlike the USSR, small enterprises remained in private hands. Meanwhile, as in the USSR, the economy remained stable, prices remained at the same level. Since 1950, the country has set a course toward attracting the peasantry to socialist cooperatives; by government decision, the bulk of the peasantry, starting in 1951, became obliged to make annual deliveries of grain to the state (they accounted for 85% of the marketable output of individual farms), and since 1952, also supplies of meat , milk and potatoes. The state purchased at such a price that it ruined small farms.

After the death of the General Secretary of the Central Committee of the PUWP, Boleslav Bierut, among members of the party elite, a group arose that insisted on changing approaches to governing the country. The leader of the USSR Nikita Khrushchev decided that he did not need a conflict with Poland, but was it worth sending troops into a country where the political confrontation had not yet reached such a situation as in Hungary (uprising in Hungary), and he decided that it was better to negotiate peacefully with the leadership of Poland . Bierut's replacement, the first secretary of the Central Committee of the PUWP, Władysław Gomułka, sought to avoid a worsening of the situation in the country, and in order to support his reforms by Polish society, he went to soften the government's policy aimed at ousting the private sector from the economy, and noted the ineffectiveness of many socialist cooperatives. Repressions against the peasantry stopped, mandatory food supplies were reduced significantly, and government purchase prices were increased.

In the 50s, the following situation developed in the Polish economy. Most of the industry was socialist, and the agricultural sector, trade, small enterprises in industry and construction were in private hands.

In Poland, the most serious attempt at economic reform was made in the early 70s, after Gomulka was replaced at the head of the PUWP by Edward Gierek, who put forward the slogan of increasing the welfare of Polish citizens.

At this time, a new series of 1974 banknotes was issued, which began to rapidly depreciate. During the 1970s, banknotes appeared, starting with 200 zloty in 1976 and ending with 2,000 zloty which was issued in 1977. After this, inflation was briefly curbed and the next largest banknote, 5,000 zloty, was issued in 1982. The 20 zloty banknote has been replaced by a coin. The production of 2 and 5 zloty coins began in 1975 from brass. At that time, Poland began to take loans from the USSR and capitalist countries, the government of Edward Gierek motivated this with the following consideration: “Investment will increase Poland's export potential, the country will be able to pay interest on loans and at the same time ensure a high level of industrial production. However, this did not happen. The foreign loans that the government took out became very large for the Polish economy, and interest on them became the main budget item. While these funds were used ineffectively in the existing centralized system. After a period of rapid growth in national income and consumption in 1971-1978. Poland has entered a phase of protracted economic crisis, aggravated by a huge and constantly growing foreign debt.”

Financial crisis of 1980

In the mid-70s, an economic recession began, coinciding with the aggravation of the problem of external debt, in terms of the magnitude of which Poland was ahead of all socialist countries. This led to a severe financial and economic crisis in Poland in the 1980s. There were difficulties with food. Rumors of government corruption spread, affecting Edward Gierek himself.

The national currency depreciated. Protest demonstrations took place in the country, led by the Solidarity movement. Managers of industrial enterprises and local authorities began to simply bide their time, awaiting developments. Meanwhile, the country's economy was collapsing. Products were now sold to the population using ration cards. General Wojciech Jaruzelski was forced in December 1981 to introduce martial law in the country, which remained in effect until July 1983.

The economic situation forced the government to further liberalize the country, which in turn led to a further increase in prices. Inflation reached more than 100% by 1982, after which price increases dropped to 15% per year and this situation lasted until 1985. However, macroeconomic problems soon re-emerged. A new banknote of the highest denomination was introduced: 5000 zloty in 1982. There was some stabilization in the mid-1980s. And at the end of the 1980s there appeared: 10,000 zlotys in 1988, 20,000 and 50,000 in 1989, 100,000, 200,000 and 500,000 in 1990. And finally, one million and two million zlotys in 1991 and 1992. Small coins, starting from 1 groschen to 50 groschens, were no longer used in trade. Most coins in the late 1980s, other than commemorative coins, were made from aluminum.

When Poland transitioned to a market economy, it was a country in which 18% of GDP was produced by the private sector of the economy (counting cooperatives - 28%). The cooperatives were not the same as in the USSR during the period of perestroika, but much more stable, having already existed for many years and having real experience of working, albeit in preferential, but still market conditions. At that time, about a quarter of the country's economy was completely market and was ready for economic reforms. Polish economist J. Rostovsky recalled that in the 80s of the last century, about 35-45% of Poles’ income began to come from income received from private economic activity.

At the end of the 80s, the country's budget did not allow for an increase in pensions and salaries for civil servants, and they remained at a low level. The bulk of budget revenues went to servicing the huge external debt, which during the 80s approximately doubled, exceeding a total of $41 billion. And this does not count the debt of 5.6 billion transferable rubles to the USSR.

As a result, the Rakovsky government allowed at the end of 1988 the “transfer into private hands” of state-owned enterprises. And those who participated in this received various kinds of benefits, and as a result, literally a year (before the start of the post-communist stage of reforms), the number of joint-stock companies in the country increased sharply. The new private sector soon played an important role in accelerating the country's economic development. The communist elite lost its political illusions and was forced to take a realistic look at the current situation in the country. The communists did not have the strength to save the economy from collapse, and this made them politically unviable.

Poland emerged from the crisis by taking the following measures:
Price liberalization;
State permission for private access to all areas of economic activity (January 1989 - January 1990);
Introducing new budget restrictions on state-owned enterprises and reducing inflation to the level of a normal economy through fiscal and monetary policies, as well as attracting new budget revenues (January 1990);
Measures to increase the convertibility of the national currency for current account transactions and eliminate controls on foreign trade (January 1990).

The result of liberalization was that during 1990 prices increased by 585.5%.

The new economic policy affected the dynamics of inflation in Poland. Despite the fact that Polish inflation was much lower than inflation in Russia, by the standards of developed countries, advanced countries of Central Europe and Eastern Europe, price growth during this period was very high. If in 1991 real inflation in the country was 70%, then already in 1992 inflation was 40%. Since 1993, the inflation rate has become stable, which leading economists consider relatively acceptable for the economy and supports the normal investment process - less than 40% per year. As a result of this policy, after a couple of years, prices for goods and services reached a level acceptable to the population.

With growing business confidence in the country's financial stability, it ensured an influx of foreign investment. The fall of the zloty already in 1992 was replaced by a steady growth of the national currency, and since 1995, the annual influx of investment into the country began to be measured in double digits.

Coins of the People's Republic of Poland (1949-1990)

In 1950, the old zloty was redenominated (exchange rate 100:1), and in 1949 the first Polish post-war coins began to be minted. The denomination was placed on the obverse of the coins, and the coat of arms of Poland (an eagle without a crown) and the inscription Rzeczpospolita Polska (Polish Republic) were placed on the reverse.

The first coins were minted from aluminum (1 and 2 groschen), bronze (5 groschen) and nickel (10, 20, 50 groschen and 1 zloty), soon all coins began to be minted from aluminum.

Since 1957, very similar aluminum coins began to be minted, but with the legend Polska Rzeczpospolita Ludowa ("Polish People's Republic").

In 1958-1959, instead of 2 and 5 zloty banknotes, corresponding aluminum coins were issued (later they began to be minted in bronze).

Since the late 1950s, Poland has issued a large number of commemorative coins in denominations of 10, then 20 zlotys. As a result of inflation, the quality of coins deteriorated, and small denominations disappeared from use. Commemorative coins began to be issued in denominations of 50 zlotys, then 100 zlotys, then 500 zlotys. In 1993, commemorative coins were issued in denominations of 20,000 and 300,000 zlotys.

Banknotes of the People's Republic of Poland

From 1944 to 1948, banknotes of 1, 2, 5 zlotys were issued (were in circulation until 1960), 10 zlotys were issued (until 1965), 20, 50, 100 and 500 zlotys (later banknotes of 200, 1000 and 2000 were added to them zloty). As a result of inflation, the value of the zloty fell sharply. In 1982, a banknote of 5,000 zlotys was issued (as well as 10 and 20 zlotys - paper is cheaper and lighter than metal), in 1987 - 10,000 zlotys, in 1989 - 20, 50 and 200 thousand zlotys, in 1990 - 100 and 500 thousand zlotys, in 1991 - 1 million zlotys, in 1993 - 2 million zlotys. All denominations of the new issue were the same size (138 x 62 mm).

New zloty

After financial stabilization achieved in 1993-1994. In 1995, a redenomination was carried out, when the denomination of zlotys was reduced by 10,000 times, and the name “new zloty” began to be used to designate the new currency (however, the “old” zlotys were also called new when they were introduced in 1950, after the previous denomination) .

Currently in circulation:
coins in denominations of 1, 2, 5, 10, 20, 50 groschen; 1, 2, 5 zlotys;
banknotes in denominations of 10, 20, 50, 100 and 200 zlotys (all with portraits of Polish kings). Commemorative banknotes of 50 zloty with John Paul II (2007), 10 zloty with Pilsudski (2008) and 20 zloty with a portrait of J. Słowacki (2009) were also issued.

In addition to ordinary circulation coins, anniversary and commemorative circulation coins with a denomination of 2 zlotys are issued, as well as collection and investment coins made of silver and gold in the following denominations: 10, 20, 25, 37, 50, 100 and 200 zlotys.

Since 2004, the National Bank of Poland has been issuing a series of commemorative coins in denominations of 2 and 10 zlotys dedicated to the Polish zloty.
In 2004, coins of 2 and 10 zlotys were issued with the image of the obverse and reverse of the 1 zloty coin of 1924 (the 10 zloty coin also features a portrait of Władysław Grabski, the author of the coin reform of 1924)
in 2005 - 2 and 10 zlotys with the image of 1936 zloty coins with a ship
in 2006 - 2 and 10 zlotys with the image of a 10 zloty coin from 1932 with the head of a “woman in ears of corn”
in 2007 - 2 and 10 zlotys with the image of the 1928 5 zloty coin “Nika”.

Since May 1995, the Polish Ministry of Finance has been pursuing a foreign exchange regulation policy. According to this criterion, the exchange rate of the zloty should not increase or decrease by more than 7% of the specified value. To combat inflation, in December 1995, by government decision, the percentage was reduced to 6%. From 1994 to 1997, the Polish economy experienced rapid growth, which was the largest in modern history. The press wrote about the Polish “economic miracle”, which no one could predict. GDP growth during this time was about 6.25%.

The country's unemployment rate has also been reduced. If in 1994 the number of unemployed in the country was about 16%, then by 1997 this figure dropped to 10%.

Economic growth and falling unemployment have allowed real wages to increase since 1994. Despite this, real wages in Poland are much lower than in most Western European countries. For example, in Portugal, where the economy lags far behind the leading European countries, the salary level is approximately three times higher than in Poland.

In April 2000, Poland abolished the orientation of the zloty on foreign currencies and switched to a floating exchange rate. Today in Poland the standard of living is low (GDP per capita is 17,400, while in Portugal it is $22,677, and in Germany $39,442), the social stratification of society is high, and crime is high. Since the beginning of the new millennium, the country's economic growth has slowed.

Polish Zloty, samples of all Polish banknotes:

Introduction of the euro

The Polish government planned to abolish the zloty by 2012 and introduce it in the country. But as Galina Wasilewska-Trenkner, a member of the Monetary Policy Council of the National Bank of Poland, states: “Poland, apparently, will not have a euro before 2014-2015.” Poland has not yet managed to achieve the financial and economic indicators that are required to enter the single currency zone of the European Union. This concerns the size of the state budget deficit, as well as the stability of the national currency.

The Polish currency is of interest to many people, from those who travel to this country for shopping to those interested in history and collecting coins. Despite the fact that this state is part of the European Union, the euro is not officially used as a currency there, with the exception of some international trade contracts.

The transition to common European money is still only in distant plans, and even then, its implementation remains very vague. Currently, Polish money is called “zloty”. However, this was not always the case, since at different times other forms of money circulated in this territory.

Historical reference

Zlotys and pennies (a small change equal to 1/100 zloty. The emphasis is on the first syllable) were introduced into use in the Polish-Lithuanian Commonwealth, as the Polish state was called at that time, quite a long time ago. However, it is also interesting to know what currency Poland had before. So, before the introduction of zlotys, the following took part in commodity-money exchange:

• Polish mark, also known as hryvnia. Equal to 0.21 kg. silver
• Cops. They were borrowed from the neighboring Czech Republic and were equivalent to 0.253 kg of silver.
• Krakow hryvnia. Corresponded to approximately 0.198 kg. silver
• Groschen (as a separate means of payment, not associated with the Zloty at that time).

The very name “zloty” began to appear around the 15th century, mainly to designate coins that were minted abroad, mainly ducats. By the way, it is interesting that in the then Rus' they were called “golden”, which is very consonant with a similar Polish word. Throughout much of history, 1 zł. equaled first 12, and then 30 grosz (grosz), and not 100, as in our days.

As for Polish paper money, they first appeared towards the end of the 18th century. Although, it is worth noting that in those days it was metal minted coins that continued to be the most in demand and often used in calculations. It should be noted that this happened after the Partitions of the Polish-Lithuanian Commonwealth. That part of the country that became part of the Russian Empire retained the previous Polish currency called the zloty. At the same time, the territories that became part of Prussia began to use the mark.

The official currency of Poland acquired a more or less modern appearance and general meaning already in the 20th century. So, it was at the beginning of the last century that the ratio to a penny began to be 1/100 instead of 1/30, as it was before. After World War I and the collapse of the Russian Empire, Poland regained its independence. The government of the new country began to take measures to normalize the economic situation and stabilize the monetary unit, which had previously been subject to high inflation. Quite stringent measures were introduced, in particular, the import of goods from other countries was significantly limited and steps were taken to increase exports. This yielded results. However, World War II, which began in 1939, thwarted all the efforts of the Polish government and economists.

After the end of the war, a socialist system was established in the country, which, closer to the 1980s, began to experience a deep systemic crisis. Inflation increased and shortages of goods began to arise. All this gradually led to the fall of the Communist Party and the advent of new, market relations in the early 1990s. Of course, this could not but affect the national Polish currency.

However, after successfully carried out reforms the situation stabilized quite quickly. The currency that is now in use in Poland in 2017 was introduced in 1995. At the same time, a redenomination was carried out, during which 4 zeros were removed from the days of the old banknotes. After the country's admission to the European Union, talk began that Poland should gradually introduce a common European currency, the euro. However, this has not yet been implemented.

Information about monetary units

Attention! You can see what Polish money in circulation today looks like, not the old ones, in the photo from official website People's Polish Bank.

Money in Poland that is currently in circulation has the following division:

• Coins in denominations of 1, 2, 10, 20, 50 groschen, as well as 1, 2, 5 zloty.

• Banknotes in denominations of 10, 20, 50, 100 and 200 zlotys. Since 2017, a PLN 500 banknote has been introduced.

It is important to remember that today a significant part of cash payments are carried out through plastic payment cards. More and more people are using international bank cards of the VISA and Master Card systems, denominated in Polish zlotys. With their help, you can pay in supermarkets, and, in principle, anywhere else. However, if necessary, you can withdraw cash from any ATM or bank branch.

Exchange operations

If you arrive in Poland from abroad, you often need to exchange foreign currency (dollars, euros, etc.) for local money. It should be understood that some exchange offices, especially those not related to well-known banks, will charge an additional commission for the exchange. So, be careful.

It is not always an easy task to exchange money on the weekend. The fact is that on Saturday, many exchange offices have a short day, and on Sunday they, as a rule, do not work. The exception is airports, train stations and other places where tourists and visitors gather in large numbers. So, if you plan to come to Poland on Saturday or Sunday, it is advisable to buy some zlotys in your country in advance. Also, take a plastic card.

Important! You can import into or export from Poland any amount of foreign or national currency. However, if the amount exceeds 10 thousand euros, you will have to fill out a declaration.

collecting coins

Numismatists are not interested in what money is in Poland today, but rather what it was like before. In addition, many of them are interested in commemorative and anniversary series produced specifically for collectors. Polish collectible coins are of high value and are highly valued by experts.

The main monetary unit of Poland is the zloty. One zloty is equal to 16 rubles and is divided into 100 groschen. Currently, bills in denominations of 10, 20, 50, 100, 200 and 500 zlotys, as well as smaller coins, are used in Poland.

History of Polish currency

The emergence of the zloty and the reforms of Stanislav Poniatowski

During the Middle Ages in Poland the following were common:

• Krakow grosz is a small silver coin;
• Kopa is a Czech coin equal to 60 Krakow groschen;
• Polish mark, for which they gave 210 grams of silver;
• Krakow hryvnia, which replaced the Polish mark in the 14th century.

Later, all these coins were replaced by the zloty.

Initially, “zloty” was the name given to all foreign gold coins, primarily ducats, which were widely circulated in the territory of the Polish Kingdom. The name “zloty” remained with the Polish currency even after the state began minting silver coins rather than gold.

The zloty became the official monetary unit in 1528, after the corresponding financial reform. When minting coins, the state faced a serious problem: there was not enough silver in the Polish-Lithuanian Commonwealth to provide the actual value of the new money. At the same time, the Polish kings and the Sejm stubbornly tried to resist inflation, artificially inflating the value of the zloty, despite the fact that the content of the precious metal in the coin was falling every year.

For several centuries, the officially declared value of the zloty was equal to 30 silver groschen, but in fact, by the 18th century, one coin could not cost more than 12 groschen.

A further deterioration of the situation could lead to the complete collapse of the Polish economic system. However, a man who realized the need for change finally came to power. In 1766, on the initiative of King Stanisław Poniatowski, a monetary reform was carried out. As a result of this reform, the Polish-Lithuanian Commonwealth switched to the Cologne foot, which contained 233 grams of silver and was divided into 80 zlotys.

Zloty after the divisions of the Polish-Lithuanian Commonwealth

At the end of the 18th century, three divisions of the Polish-Lithuanian Commonwealth occurred, during which this state ceased to exist. In the part of Poland that ceded to Prussia, the zloty was replaced by the mark. And on those lands that, after redistribution, turned out to be Russian territory, the zloty was in circulation on a par with the ruble. St. Petersburg did not liquidate the Polish currency, since in a number of cases it turned out to be more convenient and reliable than the Russian ruble. The zloty remained the official currency in the territory of the Kingdom of Poland, but with some reservations. Firstly, each coin had to have a Russian coat of arms or a portrait of Alexander I. Secondly, the Russian government set the low value of the zloty: only 15 silver kopecks were given for one zloty.

In 1828, the Polish Bank was allowed to print paper money. Banknotes were not something new for the Poles. At the end of the 18th century, during the uprising of Tadeusz Kościuszko, the Warsaw Mint was already producing paper notes, but after the victory over the rebels, all newly printed money was destroyed.

Literally three years later, a new uprising for independence took place in Poland, during which the issuance of Polish money began without images of the symbols of the Russian Empire. Like the last time, after the suppression of the uprising, these banknotes were destroyed. Since then, the zloty began to be gradually replaced by the ruble. By 1856, only the ruble was in circulation in Poland.

Monetary system of independent Poland

After the First World War, the Polish authorities removed all foreign currency from circulation in order to replace it with Polish money. At first, such a monetary unit as the Polish mark was created, but it was soon replaced by the same zloty, pegged to the dollar exchange rate. In 1925, due to the numerous debt obligations of the Polish government, the country experienced inflation.

The Chairman of the Council of Ministers of Poland, Jozef Pilsudski, tried to rectify the situation. For some time he managed to stabilize the Polish currency, but the economic crisis entered a new stage and caused another inflation.

In 1939, when Poland was occupied by German troops, new “occupation” money with Nazi symbols began to be issued. By that time, silver had already ceased to be used for minting coins, and the new zlotys were made of iron and zinc.

In 1945 Poland became socialist. Here they began to issue new money with appropriate symbols. Throughout the Soviet era, Polish money gradually depreciated. Therefore, from 1950 to the early 1990s, several reforms were carried out in the country, the main purpose of which was to introduce new banknotes of higher denominations into circulation.

Poland experienced the most serious crisis of its financial system during the fall of the Soviet regime. But by 1995 the national currency had stabilized. All further reforms were aimed exclusively at reducing the denomination of banknotes.

Zloty or Euro?

Despite the fact that the state is part of the eurozone, the question of what kind of money should be in circulation in Poland has not yet been resolved.

On the one hand, Poland has not yet fulfilled the conditions necessary for transition to the euro: maintaining a low level of inflation for two years and avoiding a large budget deficit. On the other hand, the Poles themselves are in no hurry to switch to new money. According to surveys, 75% of the population believes that the national currency should remain the zloty, and the introduction of the euro will cause financial instability. The current President of Poland, Andrzej Duda, and the majority of Sejm deputies share the same opinion.

To date, discussion of the issue of transition to the euro has been postponed for 10-20 years. Deputy Prime Minister Mateusz Morawiecki motivates this decision by saying that the transition to the euro will be safe for Poland only if the country manages to increase its economic and productive power.

The citizens of this country decided not to give up their national currency, thereby demonstrating its viability.

The formation of the zloty

The first mention of the zloty dates back to the middle of the 15th century. At that time, the state used a different currency - the hryvnia, equal to 48 groschen. But over time, the zloty began to come into use. It was the equivalent of a Venetian ducat worth 30 groschen. In fact, the zloty was then considered the popular name for the golden ducat. During economic reforms since the 16th century, the monetary unit of Poland received an official name. It became known as the zloty.

Initially, this monetary sign was equal to 12 groschen, but since the state began to save on the silver contained in coins, the rate increased to 30. Over time, its value changed, it became equal to 50 groschen. The history of the zloty is directly related to the formation of the state. Therefore, the Polish currency has undergone many trials. The creation and collapse of wars of conquest by other states - all this agitated the zloty, either depreciating or raising its value. And the introduction of other currencies in this territory did not stop the minting and circulation of the zloty. With the advent of Russian hegemony, and with it the Russian ruble, the circulation and minting of the national currency continued. Only in this case the coin had an image of the profile of Alexander I or

In 1918, the Poles decided to get rid of all the currencies that had flooded their market, inherited from countries during the First World War. A local brand was introduced into use, but it did not last long. Six years later, the monetary unit of Poland is again the zloty. This time it was equal to 100 groschen.

And even during the years of the occupation of Poland by Nazi Germany, occupation zlotys were in circulation in the country, which actually preserved the previous design. But coins began to be minted from an alloy of zinc and iron.

New history of the zloty

Literally after the liberation of Poland from fascist occupation, new banknotes were issued into circulation. Later they were reissued, and only in 1950 the zloty was denominated at a ratio of 100:1. New coins are also introduced during this period.

From 1974 to 1991, due to the growing economic crisis, the zloty depreciated, which led to the appearance of banknotes in denominations of 5000, and later 1 million and 2 million zlotys. Coins also came under attack, changing the minting material from brass to cheaper aluminum.

Modern Poland was introduced in 1995. At the same time, the zloty was denominated 10,000 times.

The circulation of old banknotes and coins continued until the end of 1996, and then they were exchanged in banks for new ones until 2011.

Modern zloty quotes

Since the zloty is not a world reserve currency, its circulation is limited only to Poland. Despite the fact that the state is a member of the European Union, all financial transactions within the country are carried out in the national currency - zloty. It, as before, is equal to 100 groschen, which are minted in denominations: 1, 2, 5, 10, 50 units. Coins of 1, 2 and 5 zlotys were also issued.

In general, today the Polish currency is quite stable on the world market. Its exchange rate against the American dollar is slightly less than 4 zlotys per dollar, but it already costs a little over 4.

Should I take dollars to Poland?

Despite the fact that the zloty is the only monetary unit in Poland, if you travel to the country, it is advisable to take euros or American dollars with you. Their exchange can be easily done without commission at specialized points, which, as a rule, are located in crowded places and have convenient opening hours.