One of the oldest currencies in Europe that has survived to this day is Polish zloty. Despite the fact that Poland is a member of the European Union, the citizens of this country decided not to give up their national currency, thereby demonstrating its viability.
The rise of the zloty
The first mention of zloty dates back to the middle of the 15th century. At that time, the state used a different currency - the hryvnia, equal to 48 pennies. But over time, the zloty began to come into use. It was the equivalent of a Venetian ducat, worth 30 pennies. In fact, zloty was then considered the popular name of the golden ducat. In the course of economic reforms since the XVI century, the monetary unit of Poland received the official name. She became known as the zloty.
Initially, this banknote was equal to 12 pennies, but since the state began to save on silver contained in coins, the rate increased to 30. Over time, its value changed, it became equal to 50 pennies. The history of the zloty is directly related to the formation of the state. Therefore, the currency of Poland has undergone many tests. The creation and collapse of the Commonwealth, the wars of conquest by other states - all this excited the zloty, now depreciating, then raising it in value. And the introduction of other currencies in this territory did not stop the coinage and circulation of the zloty. With the advent of Russian hegemony, and with it the Russian ruble, circulation and coinage of the national currency continued. Only in this case, the coin had a profile image of Alexander I or the coat of arms of the Russian Empire.
In 1918, the Poles decided to get rid of all the currencies that flooded their market, having inherited from countries during the First World War. A local brand is being introduced, but it did not last long either. Six years later, the currency of Poland is again the zloty. This time he was equated to 100 pennies.
And even during the years of the occupation of Poland by fascist Germany, occupying zloty circulated throughout the country, practically preserving the previous design. But the coins were minted from an alloy of zinc and iron.
New zloty story
Literally after the liberation of Poland from the fascist occupation, new notes were put into circulation. Later they were reissued, and only in 1950 the zloty was denominated in a ratio of 100: 1. New coins are also introduced during this period.
From 1974 to 1991, due to the growing economic crisis, the depreciation of the zloty takes place, which led to the appearance of banknotes with a face value of 5000, and later 1 million and 2 million zlotys. Coins also came under attack, changing the material for minting from brass to cheaper aluminum.
The modern currency 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.
Quotes 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. It, as before, is equal to 100 pennies, which are minted in denominations: 1, 2, 5, 10, 50 units. Coins of 1, 2 and 5 zloty were also issued.
In general, today the Polish currency is quite stable in the world market. Its exchange rate with respect to the American dollar is slightly less than 4 zloty per dollar, and 1 euro already costs 4 with a little.
Should I take dollars to Poland?
Despite the fact that the zloty is the only currency in Poland, it is advisable to take Euros or American dollars with you when traveling to the country. They can be easily exchanged without commission in specialized points, which are usually located in crowded places and have a convenient work schedule.