Zloty. Currency in Poland

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Issues of money exchange always disturb visitors. What does the local currency look like? Which course is the most profitable? How not to get a fake?

The Polish zloty has been approved as the state payment unit of the People's Republic of Poland. Coinage and issue are entrusted to the National Bank of the country. The currency in Poland consists of one hundred groszy and is recognized as the only legal means of payment in the country.

Beginning history

Initially, Poland did not have its own currency. In everyday life there were coins minted outside the country. This created serious problems. Each coin in the commodity exchange had to be evaluated. This significantly lengthened the calculation process. The first currency in Poland appeared after the approval of the Sejm in 1496. The złoty was then equal to thirty grosz. The name itself, translated from the national language, means golden.

Modern currency in Poland appeared in 1924, after the approval of the new monetary system. Under the communist regime, the zloty became a purely domestic currency with low conversion and high fluctuations. By 1995, he had devalued to such an extent that salaries were in the millions. That is why in 1995 a denomination was carried out at the rate of one thousand to one. New zloty canmeet in banknotes in denominations of 10, 20, 50, 100, 200. Coins are also minted in denominations of 1, 2 and 5 zlotys.

Until 2006, banknotes were decorated with portraits of kings. The new series is dedicated to famous figures, for example, Pope John Paul II. Although the country has been a member of the European Union since 2004, it is in no hurry to enter the eurozone and abandon its own currency.

Exchange offices

Since the zloty is not the main world currency, it is very difficult to change such money anywhere outside the country. In Poland itself, currency exchange between individuals is prohibited and prosecuted by law, but there is a wide network of both banking institutions and private exchange offices at the service of tourists. You can easily find the "exchanger" by the sign "Currency Exchange Cantor". You can find them in tourist areas, train stations, customs and border checkpoints. Upon entry, you can exchange currency for złoty at a border checkpoint with an inscription, for example, "Exchange rates Poland Bialystok".

Be careful, many private traders charge an additional commission for the exchange, or the zloty exchange rate is too low. In any exchange office in the country, the currency of Poland is available. The exchange rate against the ruble, as well as the hryvnia, is very unfavorable. Therefore, it is recommended to take US dollars or euros for exchange.

Exchange offices operate from eight to sixteen. Since banks do not work on weekends, the exchange rate in private "exchangers" falls on weekends due tothe absence of an alternative. The difference sometimes reaches twenty percent. It is worth noting that when exchanging coins of any country of any denomination, you will be offered an exchange rate 30 percent lower. Also, do not forget to ask about the discount when exchanging amounts over 500 euros.

Eurozone

In some supermarkets and shops, where there is a corresponding sign, you can freely pay in euros on a par with zlotys. However, this is a voluntary will of the buyer, and no one can force you to pay in euros. Such a system is a desire to show the intentions of the state to join the eurozone. In this case, the state currency in Poland will be replaced by the euro, which will simplify mutual settlements with partners in neighboring countries. But for this, Poland must stabilize its currency to the required indicators.

Banking system

The banking system is well developed in Poland, which allows you to control and maintain the local currency at a good level. Thanks to a wide ATM system, you can withdraw money and make an exchange at any time of the day and at a good rate.