Zloty is the monetary unit of Poland

One of the oldest currencies in Europe, which has survived to this day, is the Polish zloty. Despite the fact that Poland is a member of the European Union, the citizens of this country decided not to abandon their national currency, thus showing its viability.

The formation of zloty

The first mention of zloty refers to the middle of the XV century. At that time, another currency was used in the state - a hryvnia equal to 48 pence. But over time, zloty began to enter into use. It was the equivalent of a Venetian ducat worth 30 groschen. In fact, the zloty was then considered the popular name of the golden ducat. In the course of economic reforms since the 16th century, the monetary unit of Poland received the official name. It began to be called zloty.

Initially, this money symbol was equated to 12 pennies, but since the state began to save on the silver contained in the coins, the rate increased to 30. Over time, its value changed, it became equal to 50 pence. The history of zloty is directly connected with the formation of the state. Therefore, the currency of Poland has undergone many trials. The creation and disintegration of the Commonwealth, the wars of aggression on the part of other states-all this agitated the zloty, then depreciating, then raising it in value. And the entry of other currencies in this territory did not stop the coining and circulation of the zloty. With the advent of Russian hegemony, and with it the Russian ruble, the circulation and chasing of the national currency continued. Only in this case the coin had an image of the profile of Alexander I or the emblem of the Russian Empire.

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

And even during the occupation of Poland by fascist Germany in the territory of the country there were occupation zloty, which in fact retained the past design. But coins began to be minted from the alloy of zinc and iron.

New Zloty History

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

From 1974 to 1991, in view of 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 zł. The coins also fell under the blow, replacing the material for coinage from brass to cheaper aluminum.

The modern monetary unit of 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.

Quotations of the modern zloty

Since the zloty does not belong to the currencies of the world reserve, 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 national currency - zloty. He, as before, is equal to 100 pennies, which are minted in nominal value: 1, 2, 5, 10, 50 units. Also coins were issued at 1, 2 and 5 zł.

In general, today the Polish currency is quite stable on the world market. Its rate in relation to the US dollar is slightly less than 4 zlotys per dollar, and 1 euro is already 4 with a small.

Should I take dollars to Poland?

Despite the fact that the zloty is the only monetary unit of Poland, in case of a trip to the country it is desirable to take the euro or US dollars with it. Their exchange can be easily carried out without commission at specialized points, which, as a rule, are located in crowded places and have a convenient work schedule.