| Polish złoty Polski złoty (Polish) |
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| ISO 4217 Code | PLN | ||||
|---|---|---|---|---|---|
| User(s) | Poland | ||||
| Inflation | 4. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Poland (Polska officially the Republic of Poland In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 1% | ||||
| Source | The World Factbook, December 2007 est. | ||||
| Subunit | |||||
| 1/100 | grosz | ||||
| Symbol | zł | ||||
| grosz | gr | ||||
| Nickname | złotówka, złocisz, zeta, peelen. Groschen (Grossus Groschen grossone groš grosz garas гроші, грош grosh, gros грош was the (sometimes colloquial name for a Coin A currency sign is a graphic symbol often used as a shorthand for a Currency 's name Groschen (Grossus Groschen grossone groš grosz garas гроші, грош grosh, gros грош was the (sometimes colloquial name for a Coin | ||||
| Plural | The language(s) of this currency belong(s) to the Slavic languages. Plural is a Grammatical number, typically referring to more than one of the Referent in the real world The Slavic languages (also called Slavonic languages) a group of closely related Languages of the Slavic peoples and a subgroup of Indo-European languages There is more than one way to construct plural forms. See article. | ||||
| Coins | 1, 2, 5, 10, 20, 50 gr, 1, 2, 5 zł | ||||
| Banknotes | 10, 20, 50, 100, 200 zł | ||||
| Central bank | National Bank of Poland | ||||
| Website | www.nbp.pl | ||||
| Mint | Mennica Polska SA | ||||
| Website | www.mennica.com.pl | ||||
The złoty (/ˈzwɔtɨ/ listen , plural for numbers ending in 2, 3 and 4 (except 12, 13 and 14): złote /ˈzwɔtɛ/, plural for all other numbers: złotych /ˈzwɔtɨx/), literally meaning "golden", is the currency of Poland. Current Polish coins and banknotes issued by the National Bank of Poland. Current Polish coins and banknotes issued by the National Bank of Poland. A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states Narodowy Bank Polski ( NBP; the Polish National Bank) is the Central bank of Poland. A mint is an industrial facility which manufactures Coins for Currency. Poland (Polska officially the Republic of Poland The ISO 4217 currency code is PLN. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established The modern złoty is subdivided into 100 groszy (singular: grosz, alternate plural form: grosze).
As a result of hyperinflation in the early 1990s, the currency underwent redenomination. Certain figures in this article use Scientific notation for readability The 1990s collectively refers to the years between and including 1990 and 1999 Denomination is a proper description of a Currency amount usually for Coins or Banknotes Denominations may also be used with other means of payment like Thus, on January 1, 1995, 10 000 old złotych (PLZ) became one new złoty (PLN). New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1995 ( MCMXCV) was a Common year starting on Sunday. Events of 1995
Contents |
History
First złoty, -1850
Kingdom of Poland and Polish-Lithuanian Commonwealth
The złoty is a traditional Polish currency unit dating back to the Middle Ages. Initially, in the 14th and 15th centuries, the name was used for all kinds of foreign gold coins used in Poland, most notably German and Ruthenian ducats. The ducat (ˈdʌkət is a Gold coin that was used as a trade currency throughout Europe before World War I. In 1496 the Sejm approved the creation of a national currency, the złoty, and its value was set at 30 groszy, a coin minted since 1347 and modelled on the Prager Groschen. The Prague groschen (pražský groš grossi pragenses Prager Groschen Grosz praski was a Groschen -type Silver Coin that became very common throughout The grosz was subdivided into 2 poltura or 3 solidi.
The name złoty (sometimes referred to as the florin) was used for a number of different coins, including the 30 groszy coin called the polski złoty, the czerwony złoty (Red gulden) and the złoty reński (the Rhine ducat), which were in circulation at the time. However, the value of the Polish złoty dropped over time relative to these foreign coins and it became a silver coin, with the foreign ducats eventually circulating at approximately 5 złotych.
Following the monetary reform carried out by King Stanisław August Poniatowski, the złoty became Poland's official currency and the exchange rate of 1 złoty to 30 groszy was confirmed. Monetary Reform describes any movement or theory that proposes a different system of supplying Money and financing the economy than the current system Stanisław II August Poniatowski (born Count Stanisław Antoni Poniatowski; January 17 1732 – February 12 1798 was the last King Until 1787, the złoty was tied to the Conventionsthaler of the Holy Roman Empire, with 8 złoty equal to one Conventionsthaler and, consequently, 4 groschen equal to the złoty. The Conventionstaler was a standard Silver coin of the Holy Roman Empire. The Holy Roman Empire ( HRE; German Heiliges Römisches Reich (HRR, Latin Sacrum Romanum Imperium (SRI was a union of territories in Groschen (Grossus Groschen grossone groš grosz garas гроші, грош grosh, gros грош was the (sometimes colloquial name for a Coin Two debasements of the currency occurred in the years before the final partition of Poland.
Duchy of Warsaw
The złoty remained in circulation after the Partitions of Poland and the Duchy of Warsaw issued coins denominated in grosz, złoty and talar (plurals talary and talarów), worth 6 złoty. The Partitions of Poland or Partitions of the Polish Lithuanian Commonwealth took place in the second half of the 18th century and ended the existence of the The Duchy of Warsaw (Księstwo Warszawskie Duché de Varsovie Herzogtum Warschau Варшавское герцогство was a Polish state established by Napoleon Talar banknotes were also issued.
Congress Kingdom, 1815-1850
From 1816, the złoty currency was issued by the Russian controlled Congress Kingdom, with a fixed exchange rate between the Polish and Russian currencies of 1 kopeck = 2 grosze, or 15 kopeck = 1 złoty. The ruble or rouble (рубль rublʹ, plural ru рубли́ rubli; see note on English spelling and Russian plurals with numbers The Warsaw mint issued grosz and złoty until 1832, when it began to issue coins denominated in both Polish and Russian currencies. Warsaw (Warszawa; also known by other names) is the Capital and Largest city of Poland. From 1842, the Warsaw mint issued regular type Russian coins along with some coins denominated in both grosz and kopeck. In 1850, the last coins bearing Polish denominations were minted. Between 1835 and 1846, the Republic of Kraków also issued a currency, the Kraków złoty
Currencies of Congress Kingdom Ruble and Mark, 1850-1924
From 1850, the only currency issued for use in Congress Kingdom was the rubel consisting of Russian currency and notes of the Bank Polski. The Free Independent and Strictly Neutral City of Kraków (Cracow with its Territory The złoty (golden was a currency issued in the independent Republic of Cracow in 1835 Congress Poland Kongresówka, officially and formally Kingdom of Poland (Królestwo Polskie {{IPA-pl|'|p|o|l|s|kʲ|e}} Царство Польское Tsarstvo Polskoye The ruble or rouble (in Russian: рубль rubl') is a unit of currency The marka ( Marka polska, abbreviated mp, plural marki marek) was the currency of the Kingdom of Poland and of the Republic of Poland Congress Poland Kongresówka, officially and formally Kingdom of Poland (Królestwo Polskie {{IPA-pl|'|p|o|l|s|kʲ|e}} Царство Польское Tsarstvo Polskoye The rubel was the currency of Poland from 1841 until 1917 It consisted of Russian coins and banknotes together with notes issued by the Bank Polski. The monetary system of Congress Kingdom was unified with the Russian Empire following the failed January Uprising in 1863. Congress Poland Kongresówka, officially and formally Kingdom of Poland (Królestwo Polskie {{IPA-pl|'|p|o|l|s|kʲ|e}} Царство Польское Tsarstvo Polskoye The Russian Empire ( Pre-reform Russian: Pоссійская Имперія Modern Russian: Российская Империя translit: Rossiyskaya The January Uprising ( Polish: powstanie styczniowe, Lithuanian: 1863 m However, the gold coins remained in use until the early 20th century, much like other gold coins of the epoch, most notably gold roubles (dubbed świnka, or piggy) and sovereigns. The twentieth century of the Common Era began on A Gold Sovereign is a Gold coin first issued in 1489 for Henry VII of England and still in production as of 2008 Following occupation of the Congress Kingdom by Germans during World War I in 1917, the rubel was replaced by the marka (plurals marki and marek), a currency initially equivalent to the German Papiermark. Congress Poland Kongresówka, officially and formally Kingdom of Poland (Królestwo Polskie {{IPA-pl|'|p|o|l|s|kʲ|e}} Царство Польское Tsarstvo Polskoye World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All The marka ( Marka polska, abbreviated mp, plural marki marek) was the currency of the Kingdom of Poland and of the Republic of Poland The name Papiermark (paper mark is applied to the German currency from the point in 1914 when the link between the Mark and gold was abandoned due to the outbreak
Second złoty, 1924-1950
Second Republic, 1924-1939
The złoty was reintroduced as Poland's currency by Władysław Grabski in 1924, following the hyperinflation and monetary chaos of the years after World War I. Władysław Grabski ( 7 July 1874 - 1 March 1938) was a Polish politician economist and historian Year 1924 ( MCMXXIV) was a Leap year starting on Tuesday (link will display the full calendar of the Gregorian calendar. Certain figures in this article use Scientific notation for readability World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All It replaced the marka at a rate of 1 złoty = 1,800,000 marek and was subdivided into 100 groszy. The marka ( Marka polska, abbreviated mp, plural marki marek) was the currency of the Kingdom of Poland and of the Republic of Poland The złoty was pegged at 0. 1687 grams pure gold. Gold (ˈɡoʊld is a Chemical element with the symbol Au (from its Latin name aurum) and Atomic number 79 1 1939 złoty = 8 2004 złoty. Year 1939 ( MCMXXXIX) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again "
General Government, 1939-1944
On December 15, 1939, the new Bank Emisyjny was established by the General Government, itself set up by Nazi Germany. Events 533 - Byzantine general Belisarius defeats the Vandals, commanded by King Gelimer, at the Battle of Year 1939 ( MCMXXXIX) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. The General Government (Generalgouvernement refers to a part of the territories of Poland (and Ostrava Czechoslovakia under German Military occupation Nazi Germany and the Third Reich are the common English names for Germany under the regime of Adolf Hitler and the National Socialist German Workers In May 1940, old banknotes of 1924-1939 were stamped by the new entity. The money exchange was limited per individual, the limits varied according to the status of the person (Pole, Jew, etc. ). The fixed exchange rate 1 Reichsmark = 2 złote was established. For a detailed discussion of the English translation of Reich, see Reich. A new issue of notes appeared in 1941. Year 1941 ( MCMXLI) was a Common year starting on Wednesday (the link will display 1941 calendar of the Gregorian calendar. The General Government also issued coins using similar designs to earlier types but with cheaper metals.
Lublin Poland, 1944-1950
New złoty banknotes were introduced after July 22, 1944 by the Narodowy Bank. Events 1099 - First Crusade: Godfrey of Bouillon is elected the first Defender of the Holy Sepulchre of The Kingdom of Year 1944 ( MCMXLIV) was a Leap year starting on Saturday (link will display full calendar of the Gregorian calendar. They circulated until 1950.
Third złoty (PLZ), 1950-1994
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In 1950, a new złoty was introduced, replacing all earlier issues at a rate of one hundred to one. The new banknotes were dated 1948, whilst the new coins were dated 1949. From 1 January 1990 it was a convertible currency. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1990 ( MCMXC) was a Common year starting on Monday (link displays the 1990 Gregorian calendar)
Between 1950 and 1990, a unit known as the złoty dewizowy (which can be roughly translated as the foreign exchange złoty) was used as an artificial currency for calculation purposes only. It existed because at the time the złoty was not convertible and its official rate of exchange was set by the Government, and there existed several exchange rates depending on the purpose of the transaction and who was exchanging, i. e. given amount in złoty could be exchanged for say US dollars at one of several official exchange rates depending on what was to be bought for the hard currency and the company that was buying foreign exchange; it worked similarly when a company had some earnings in Western currency and wanted (or had) to convert them into złotych. The exchange rate did not depend on the amount being converted. Visitors from countries outside of the Soviet Bloc were offered a particularly poor exchange rate. Concurrently, the private black-market exchange rate contrasted sharply with the official government exchange rate until the end of Communist rule in 1989 when official rates were tied to market rates.
Fourth złoty (PLN), 1995-
The new Polish złoty is the unofficial name of the current currency of Poland, introduced on January 1, 1995 as a result of the redenomination of the old currency. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1995 ( MCMXCV) was a Common year starting on Sunday. Events of 1995 Denomination is a proper description of a Currency amount usually for Coins or Banknotes Denominations may also be used with other means of payment like The official name of the Polish currency did not change since the Polish currency law of 1950 (DZ. Year 1950 ( MCML) was a Common year starting on Sunday (link will display the full calendar of the Gregorian calendar. U nr 50. poz. 459 with later changes), which defines the official currency as the złoty, remains in effect. The redenomination rate was 10 000 old Polish złoty to 1 new Polish złoty. The issuing bank is the Narodowy Bank Polski. Narodowy Bank Polski ( NBP; the Polish National Bank) is the Central bank of Poland.
 Current 10 złoty banknote with portrait of Duke Mieszko I |
 Current 10 złoty banknote |
 Current 20 złoty banknote with portrait of King Bolesław I The Brave |
 Current 20 złoty banknote |
 Current 50 złoty banknote with portrait of King Casimir III The Great |
 Current 50 złoty banknote |
 Current 100 złoty banknote |
 Current 200 złoty banknote with portrait of King Zygmunt I The Old |
 Current 200 złoty banknote |
Future
Conditions of the Poland's accession to the European Union (in May 2004) oblige the country to eventually adopt the euro, though not at any specific date and only after Poland would be able to meet the necessary stability criteria. Life In 965 Mieszko married Dobrawa (Dobrava Dubrawka daughter of Boleslav I, Duke of Bohemia. Casimir III the Great (Kazimierz Wielki April 30 1310 – November 5 1370 last King of Poland from the Piast dynasty (1333–1370 was the son of King Władysław Sigismund I the Old (Zygmunt I Stary Žygimantas II Senasis 1 January 1467 – 1 April 1548) of the Jagiellon dynasty reigned as The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Please update other articles as well to avoid contradiction within Wikipedia e Convergence criteria (also known as the Maastricht criteria are the criteria for European Union member states to enter the third stage of European Economic and Monetary Currently, the introduction of the euro is unlikely before 2012 (according to Standard & Poor's analysis), and the fulfilment of the stability criteria could further delay introduction. 2012 ( MMXII) will be a Leap year starting on Sunday of the Gregorian calendar. Standard & Poor's ( S&P) is a division of McGraw-Hill that publishes financial research and analysison Stocks and bonds. The Polish government stated (in June 2004) that it would like to join the euro in 2008, this forecast mainly being made due to Poland's recent strong GDP growth and the reduction of the budget deficit. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common The euro will probably be introduced on January 1, 2012. Please update other articles as well to avoid contradiction within Wikipedia e New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC 2012 ( MMXII) will be a Leap year starting on Sunday of the Gregorian calendar. [1]
Coins
First złoty
In the late eighteenth century, coins were issued in denominations of ⅓, ½, 1, 3, 6, 7½, 10 and 15 groszy, 1, 2, 4, 6 and 8 złotych. The ⅓ and ½ grosz were denominated as the solidus and poltura, whilst the 7½ and 15 groszy were denominated as 1 and 2 groschen. Coins up to 3 grosz were minted in copper, those between 6 and 15 grosz were billon whilst the denominations from 1 złoty upward were in silver.
The Duchy of Warsaw issued copper 1 and 3 grosze, billon 5 and 10 groszy and silver 1⁄6, ⅓ and 1 talar. The Duchy of Warsaw (Księstwo Warszawskie Duché de Varsovie Herzogtum Warschau Варшавское герцогство was a Polish state established by Napoleon After 1816, the Congress Kingdom of Poland issued copper 1 and 3 grosze, billon 5 and 10 groszy, silver 1, 2, 5 and 10 złotych, and gold 25 and 50 złotych. Congress Poland Kongresówka, officially and formally Kingdom of Poland (Królestwo Polskie {{IPA-pl|'|p|o|l|s|kʲ|e}} Царство Польское Tsarstvo Polskoye During the insurrection of 1831, coins were minted for 3 and 10 groszy, 2 and 5 złotych.
Between 1832 and 1834, coins denominated in both Polish and Russian currencies were issued, for 1 złoty (15 kopeck), 2 złote (30 kopeck), 5 złotych (¾ ruble), 10 złotych (1½ ruble) and 20 złotych (3 ruble). These were issued, along with the copper and billon coins, until 1841. In 1842, Russian coins were introduced, supplemented by 40 groszy (20 kopeck) and 50 groszy (25 kopeck) coins. These two coins were issued until 1850.
Second złoty
In 1924, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 groszy, 1 and 2 złote. The lowest three denominations were first minted in brass, then in bronze. The 10, 20 and 50 groszy were in nickel, with the higher denominations in silver. Gold 10 and 20 złotych coins were minted in 1925. Silver 5 złotych coins were introduced in 1928. The size of the silver coins was reduced in 1932, a move accompanied by the introduction of silver 10 złotych coins. During the German occupation of World War II, 1, 5, 10 and 20 groszy coins were issued (dated 1923) in zinc and 50 groszy (dated 1938) in nickel plated iron or iron. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including
Third złoty
In 1950, coins were issued for 1, 2, 5, 10, 20 and 50 groszy and 1 złoty. All denominations were minted in aluminium, with the 5 groszy also minted in bronze and the denominations above 5 groszy also minted in cupro-nickel. From 1957, aluminium coins for 5, 10, 20 and 50 groszy and 1 złoty were issued, with aluminium 2 and 5 złotych introduced in 1958. Cupro-nickel 10 and 20 złotych followed in 1959 and 1973, respectively. Brass 2 and 5 złotych were introduced in 1975, reverting to aluminium in 1989. In 1990, 50 and 100 złotych coins were issued, although they saw little circulation due to the high inflation occurring at that time.
Fourth złoty
Coins were introduced in 1995 (dated from 1990) in denominations of 1, 2, 5, 10, 20 and 50 groszy, 1 (colloquially called złotówka), 2 and 5 złotych (colloquially called piątak). Current Polish coins and banknotes issued by the National Bank of Poland. The 1, 2, and 5 groszy are minted in brass, and the 10, 20 and 50 groszy and 1 złoty in cupro-nickel, whilst the 2 and 5 złotych are bimetallic. 10, 20, 50, 100, 200 and 500 złotych coins also exist and are legal tender, but are not in circulation.
Banknotes
First złoty
In 1794, treasury notes were issued in denominations of 5 and 10 groszy, 1, 4, 5, 10, 25, 50, 100, 500 and 1000 złotych. The Duchy of Warsaw issued notes for 1, 2 and 5 talarów.
In 1824, the Kassowy Krolestwa Polskiego issued notes for 10, 50 and 100 złotych. The Bank Polski issued notes dated 1830 and 1831 in denominations of 1, 5, 50 and 100 złotych, whilst assignats for 200 and 500 złotych were issued during the insurrection of 1831. From 1841, the Bank Polski issued notes denominated in rubel. The rubel was the currency of Poland from 1841 until 1917 It consisted of Russian coins and banknotes together with notes issued by the Bank Polski.
Second złoty
In 1924, along with provisional notes (overprints on old, bisected notes) for 1 and 5 groszy, the Ministry of Finance issued notes for 10, 20 and 50 groszy, whilst the Bank Polski introduced 1, 2, 5, 10, 20, 50, 100, 500 and 1000 złotych. From 1925, the Ministry of Finance issued 2 and 5 złotych notes, before they were replaced by silver coins, and the Bank Polski issued 5, 10, 20 and 50 złotych notes, with 100 złotych only reintroduced in 1932. In 1936, the Bank Polski issued 2 złote notes, followed in 1938 by Ministry of Finance notes for 1 złoty.
In 1939, the General Government overprinted 100 złotych notes for use before, in 1940, the Bank Emisyjny w Polsce was set up and issued notes for 1, 2, 5, 10, 20, 50, 100 and 500 złotych. The General Government (Generalgouvernement refers to a part of the territories of Poland (and Ostrava Czechoslovakia under German Military occupation After liberation, notes (dated 1944) were introduced by the Narodowy Bank Polski for 50 groszy, 1, 2, 5, 10, 20, 50, 100 and 500 złotych, with 1000 złotych notes added in 1945. Narodowy Bank Polski ( NBP; the Polish National Bank) is the Central bank of Poland.
Third złoty
In 1950, new notes (dated 1948), were introduced for 2, 5, 10, 20, 50, 100 and 500 złotych. 1000 złotych notes were added in 1962. 200 and 2000 złotych notes were added in 1976 and 1977, followed by 5000 złotych notes in 1982. The late 1980s and early 1990s saw high inflation in Poland and lead to the introduction of notes in denominations of 10,000 (in 1987), 20,000 (1989), 50,000 (1989), 100,000 (1990), 200,000 (1989), 500,000 (1990), 1,000,000 (1991) and 2,000,000 złotych (1992). These notes (an coins of course) were valid until the end of 1996. Currently they are no longer a legal tender and can be exchanged only at the National Bank of Poland (and some banks obligated to it by the NBP) until December 31, 2010.
Fourth złoty
In 1995, notes (dated 1994) were introduced in denominations of 10 (colloquially called dycha), 20, 50 (two varieties, one of which was issued for collectors), 100 (colloquially called stówa) and 200 złotych. 10,000 Third złotych = 1 Fourth "new" złoty.
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See also
- Polish coins and banknotes
- Historical coins and banknotes of Poland
- Polish euro coins
- Economy of Poland
External links
- Don's World Coin Gallery - Poland
- Ron Wise's World Paper Money - Poland Mirror site
- The Global History of Currencies - Poland
- Global Financial Data data series - Poland Zloty
- Global Financial Data currency histories table (
Microsoft Excel format) - Banknotes issued by the NBP
- Coins issued by the NBP
- A fan-shaped 10 złoty commemorative coin released in 2004
- National Bank of Poland - Schedule of exchange rates
- "English" counterfeit banknote 500 zloty 1940 issued by Bank Emisyjny
| Preceded by: Grosz Ratio: 1 złoty = 15 groszy |
Currency of Poland 1496 – 1850 |
Succeeded by: Polish rubel and Russian ruble Reason: partition of Poland Ratio: 1 rubel/ruble = 6⅔ złotych |
| Preceded by: Polish marka Reason: inflation Ratio: 1 złoty = 1,800,000 marek |
Currency of Poland 1924 – 1950 |
Succeeded by: Third złoty Reason: inflation Ratio: 1 third złoty = 100 second złotych |
| Preceded by: Second złoty Reason: inflation Ratio: 1 third złoty = 100 second złotych |
Currency of Poland 1950 – 1995 |
Succeeded by: Fourth złoty Reason: inflation Ratio: 1 fourth złoty = 10,000 third złotych |
| Preceded by: Third złoty Reason: inflation Ratio: 1 fourth złoty = 10,000 third złotych |
Currency of Poland 1995 – probably 2012 |
Succeeded by: Current; will be succeded by Euro in the future Reason: EU membership Ratio: not yet decided |
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