Poland, while an integral part of the European Union, proudly maintains its own distinct financial identity. The official Polish Money Currency is the Polish Zloty (zł), symbolized as PLN in international markets, and it’s essential to understand this currency when navigating finances in Poland. Divided into 100 groszy (gr), the zloty is the lifeblood of the Polish economy and daily transactions.
Currently, Poland utilizes a diverse range of coins and banknotes for everyday commerce. Coins come in denominations of 1, 2, 5, 10, 20, and 50 groszy, along with 1 zł, 2 zł, and 5 zł pieces. Banknotes are available in denominations of 10 zł, 20 zł, 50 zł, 100 zł, 200 zł, and the relatively recently introduced 500 zł note.
Polish banknotes are not only functional but also visually distinctive. Their varying sizes, increasing with denomination value, are a unique feature. Adorning the banknotes are portraits of significant Polish rulers throughout history. You’ll find figures like Mieszko I, Poland’s first historical ruler, King Boleslaw I the Brave, the nation’s first king, and King Władysław II Jagiełło, founder of the Jagiellonian dynasty, among others. For accessibility, each banknote incorporates a tactile geometric symbol in the bottom left corner – a square, circle, diamond, plus sign, or triangle – enabling visually impaired individuals to differentiate denominations.
These banknotes and coins in circulation today are relatively modern, dating back to the 1995 redenomination. In the early 1990s, post-communist Poland grappled with hyperinflation. This period saw everyday citizens jokingly consider themselves “millionaires” as the average monthly salary reached approximately PLN 5.3 million in 1994, while even basic goods like bread cost around PLN 7,500! To stabilize the economy, the Polish parliament enacted a redenomination in 1995, introducing the new zloty at a rate of 1 new złoty for every 10,000 old zlotys. The old currency was subsequently withdrawn from circulation and ceased to be legal tender.
Understanding PLN Exchange Rates
When planning a trip to Poland or engaging in financial transactions involving Polish currency, understanding the exchange rates is crucial. While fluctuations occur, as of January 2021, approximate exchange rates were:
| Exchange rates* |
|---|
| EUR 1 |
| GBP 1 |
| USD 1 |
*as of January 2021, Narodowy Bank Polski
The Polish Zloty stands as a symbol of Poland’s economic sovereignty and rich history. Familiarizing yourself with this polish money currency is key to navigating your financial interactions within Poland.
