PLN information
About the Polish Złoty (PLN)
What Is the Polish Złoty (PLN)?
The Polish Złoty, abbreviated as PLN, is the official currency of Poland. Its name, derived from the Polish word for 'gold', reflects its historical value. The symbol of the Polish Złoty is "zł". This symbol is derived from the first two letters of the word "złoty". The symbol is typically used in price tags, financial reports, and other contexts within Poland to denote the amount in złoty, such as 50 zł for fifty złoty. The złoty is subdivided into 100 grosz (gr). The Polish Złoty is the sole legal tender in Poland, and it is used for all transactions within the country.
The Polish Złoty is issued by the National Bank of Poland (Narodowy Bank Polski, NBP), which is the central bank of Poland. The NBP is responsible for the issuance and regulation of the Polish currency, managing its circulation, and maintaining its stability. Additionally, the bank plays a crucial role in implementing monetary policy, overseeing the banking system, and maintaining the country's foreign reserves.
What Is the History of PLN?
The first tangible currency in Poland was the denarius, circulating since the 10th century. The złoty, initially used for foreign gold coins like ducats and florins, was officially introduced in 1919, replacing the Polish marka. During the Kościuszko Uprising and subsequent partitions, the złoty underwent significant changes. The introduction of paper money and the fluctuation in value due to political upheavals marked this era. After World War II, the złoty was reintroduced and underwent redenomination in 1950 and again in 1995 due to hyperinflation. The modern złoty (PLN) replaced the old złoty (PLZ) at a rate of 10,000:1.
Notes and Coins of PLN
The currency comes in various denominations. Banknotes are commonly available in 10, 20, 50, 100, 200, and 500 złoty, while coins are minted in denominations of 1, 2, 5, 10, 20, and 50 grosz, and 1, 2, and 5 złoty. Modern banknotes have advanced security features, including watermarks and unique designs to prevent counterfeiting. The minting of coins and printing of banknotes are also managed under the authority of the National Bank of Poland.
Economic Significance and Exchange Rate
The Polish Złoty (PLN) is crucial to Poland's economy and significant in Central and Eastern European financial markets. As the nation's official currency, it underpins all domestic financial transactions. Governed by a floating exchange rate system, the Złoty's value fluctuates based on Poland's economic performance, interest rates, inflation, and global economic conditions. This fluctuation makes its exchange rate against major currencies like the Euro and US Dollar a vital indicator for investors and economic policymakers. The Złoty's stability is key to attracting foreign investment and maintaining healthy trade relationships. While there is ongoing discussion about Poland potentially adopting the Euro in accordance with its EU membership, the Złoty remains Poland's official currency, highlighting its significance in both the national and regional economic spheres.
Is Polish Złoty Pegged to the Euro?
The Polish Złoty (PLN) operates under a floating exchange rate system and is not pegged to the Euro (EUR). Although Poland is a member of the European Union, it has retained its own currency and has not yet met the necessary convergence criteria to adopt the Euro. In the floating exchange rate system, the value of the Złoty is determined by market forces of supply and demand in relation to other currencies. The decision to transition to the Euro will depend on Poland's fulfillment of these criteria, but until then, the Złoty remains an independent currency, subject to market fluctuations.
BAC to PLN conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | zł0.006334 | 0.0200% / 0.0320%VIP 7 | |
Gate.io | zł0.006336 | 0.1000% / 0.1000% | Yes |
How to buy Basis Cash
Buy BAC (or USDT) for PLN (Polish Złoty) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
---|---|---|---|---|
y ya68 176 trades|Completion rate 99.00% | 4.22 PLN | Amount143.39 USDT Limit200 - 1000 PLN | ||
C CR1PTOM1LL1ONER 256 trades|Completion rate 96.00% | 4.25 PLN | Amount553.29 USDT Limit300 - 2351 PLN | ||
S Shkolar_FastExchange 111 trades|Completion rate 99.00% | 4.59 PLN | Amount82.91 USDT Limit30 - 300 PLN | ||
F FastandSafe 751 trades|Completion rate 100.00% | 4.89 PLN | Amount50.38 USDT Limit50 - 246 PLN | ||
S Shkolar_FastExchange 111 trades|Completion rate 99.00% | 4.9 PLN | Amount90.5 USDT Limit4 - 655.32 PLN |
Sell BAC (or USDT) for PLN (Polish Złoty) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
---|---|---|---|---|
y ya68 176 trades|Completion rate 99.00% | 4.07 PLN | Amount500 USDT Limit300 - 1000 PLN | ||
B BGUSER-XA98QADX 111 trades|Completion rate 97.00% | 4.01 PLN | Amount124 USDT Limit300 - 497.24 PLN | ||
N Nikola4 3 trades|Completion rate 100.00% | 3.95 PLN | Amount75380.43 USDT Limit2000 - 100000 PLN | ||
F FastandSafe 751 trades|Completion rate 100.00% | 3.91 PLN | Amount2250 USDT Limit100 - 8500 PLN | ||
T Timalizalays 68 trades|Completion rate 100.00% | 3.9 PLN | Amount94347.34 USDT Limit4000 - 20000 PLN |
What factors influence the conversion rate of Basis Cash to Polish Złoty?
Basis Cash to Polish Złoty is falling this week.Conversion tables
The exchange rate of Basis Cash is decreasing.BAC to PLN
PLN to BAC
Today vs. 24 hours ago
Amount | 01:46 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 BAC | $0.0007681 | $0.0007969 | -3.62% |
1 BAC | $0.001536 | $0.001594 | -3.62% |
5 BAC | $0.007681 | $0.007969 | -3.62% |
10 BAC | $0.01536 | $0.01594 | -3.62% |
50 BAC | $0.07681 | $0.07969 | -3.62% |
100 BAC | $0.1536 | $0.1594 | -3.62% |
500 BAC | $0.7681 | $0.7969 | -3.62% |
1000 BAC | $1.54 | $1.59 | -3.62% |
Today vs. 1 month ago
Amount | 01:46 am today | 1 month ago | 1M change |
---|---|---|---|
0.5 BAC | $0.0007681 | $0.0009771 | -21.39% |
1 BAC | $0.001536 | $0.001954 | -21.39% |
5 BAC | $0.007681 | $0.009771 | -21.39% |
10 BAC | $0.01536 | $0.01954 | -21.39% |
50 BAC | $0.07681 | $0.09771 | -21.39% |
100 BAC | $0.1536 | $0.1954 | -21.39% |
500 BAC | $0.7681 | $0.9771 | -21.39% |
1000 BAC | $1.54 | $1.95 | -21.39% |
Today vs. 1 year ago
Amount | 01:46 am today | 1 year ago | 1Y change |
---|---|---|---|
0.5 BAC | $0.0007681 | $0.002226 | -65.50% |
1 BAC | $0.001536 | $0.004453 | -65.50% |
5 BAC | $0.007681 | $0.02226 | -65.50% |
10 BAC | $0.01536 | $0.04453 | -65.50% |
50 BAC | $0.07681 | $0.2226 | -65.50% |
100 BAC | $0.1536 | $0.4453 | -65.50% |
500 BAC | $0.7681 | $2.23 | -65.50% |
1000 BAC | $1.54 | $4.45 | -65.50% |
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