Poland, Zloty

PLN - Polish Zloty

Polish Zloty is the official currency of Poland. The currency code for the Polish Zloty is PLN, symbolized by zł. Each zloty is made up of 100 minor units called groszy. The zloty dates back to the Middle Ages. However, during the early 1990's following a re-domination of the old zloty due to inflation, a new zloty was introduced. The banknotes in current circulation are in 500, 200, 100, 50, 20 and 10 zloty denominations and coins come in 5, 2 and 1 Zloty, and 50, 20, 10, 5, 2 and 1 Groszy units.

Poland's economy has benefitted from a liberal regulation policy on developing new business and the privatization of small and medium state-owned enterprises.The most popular exchange rate involving the currency is the British pound to zloty. The National Bank of Poland issues and distributes coins and banknotes on the territory of Poland. There has been a modernization of its currency to include all the latest in security measures as a measure to eliminate counterfeits. Poland has maintained a floating exchange rate mechanism and has seen some fluctuations over the last few years. Since entering the European Union, the decision as to whether Poland will adopt the euro as its national currency has been the center of an on-going debate.

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