Polish Zloty (PLN)

The Polish Zloty (PLN) is the official currency of Poland, denoted by the symbol "zł." It is managed and issued by the National Bank of Poland (NBP), the country's central bank. The term "zloty" translates to "golden" in English, reflecting its historical ties to gold coins.

The currency is subdivided into 100 smaller units called grosz. The most frequently used banknotes are 10, 20, 50, 100, and 200 zlotych, while coins in circulation include 1, 2, and 5 zlotych denominations, as well as 1, 2, 5, 10, 20, and 50 grosz coins.

The modern Polish Zloty was introduced in 1995, replacing the old zloty (PLZ) at a rate of 10,000 old zloty to 1 new zloty. This change was part of the redenomination process to counter high inflation that occurred in the early 1990s.

The National Bank of Poland is responsible for managing the stability of the Polish Zloty, which involves controlling inflation, implementing monetary policy, and maintaining the currency's exchange rate. The central bank may intervene in the foreign exchange market to prevent excessive fluctuations in the value of the zloty that could adversely impact the Polish economy.

The Polish Zloty is affected by various factors, including economic indicators, interest rates, and geopolitical events, which can influence its exchange rate against other currencies. As an investor or trader, it is essential to monitor these factors and consider the potential risks associated with currency fluctuations when making investment decisions involving the Polish Zloty.