zł

Poland's official and legal tender currency is the zloty. Each grosz is divided into 100. The Polish zloty is the name of the money that is most commonly used in English. It ranks 22nd on the currency exchange market and is the most traded currency in Central and Eastern Europe. The grosz component was based on the groschen, which is connected to the English word groat. The word zloty is a masculine form of the Polish adjective "golden," which closely links to the guilder with its name. On February 28, 1919, it was formally established to replace its predecessor, the Polish marka, and it went into circulation in 1924. Mennica Polska, which was established in Warsaw on February 10, 1766, is the only organization authorized to produce or mint zloty coins. Early in the 1990s, the currency underwent redenomination due to inflation. As a result, 10,000 old zloty were converted to one new zloty on January 1, 1995. Since then, the value of the currency has been quite constant, oscillating between 3 and 4 zloty for every US dollar. Despite the fact that Poland is a member of the European Union, which requires its members to eventually switch to the euro, roughly 60% of Poles are against doing so.