Zloty

Zloty (plural: Zloties) is the Polish currency unit. The Polish spelling is złoty - literally meaning a gold (piece).

• ISO 4217 currency code: PLN
• Exchange rate (10/2003): 1 USD = 4.0 PLN; 1 Euro = 4.65 PLN

The 1 zloty coin.

Due to hyperinflation in the early 1990s, the decimal point on the currency was moved by 4 places. Thus 10,000 old zloties (PLZ) = 1 new zloty (PLN).

History

The zloty was introduced in 1924 after hyperinflation and monetary chaos of the years after World War I. It replaced the Polish Mark which was in use since 1919. Denomination: 1 zloty = 100 groszy = 0.1687 grams of gold; 1 zloty = 1 800 000 Polish Marks.