History And Overview

The Polish Złoty: An Overview

History and Overview

The Polish złoty (PLN) is the official currency of Poland. It has been in use since 1995, when it replaced the old złoty at a rate of 10,000 old złotych to 1 new złoty. The złoty is divided into 100 groszy.

The name "złoty" comes from the Polish word for "gold." The złoty was first introduced in the 14th century, and it has been used as Poland's currency for most of its history. The złoty has been through several periods of inflation and devaluation, but it remains the country's official currency today.

Current Exchange Rates

As of March 8, 2023, the exchange rate between the Polish złoty and the US dollar is 1 PLN = 0.24 USD. The exchange rate between the Polish złoty and the euro is 1 PLN = 0.22 EUR.

Factors Affecting the Exchange Rate

The exchange rate of the Polish złoty is affected by a number of factors, including:

• Interest rates
• Inflation
• Economic growth
• Political stability

The Polish złoty has been relatively stable in recent years, but it can be volatile at times. The currency is expected to continue to fluctuate in the future, but it is likely to remain the official currency of Poland for the foreseeable future.