Zloty
noun
- The national currency of Poland
- The coins and banknotes denominating Polish currency
Usage
The zloty or zlotych (zł) is the currency of Poland, which is distributed in coins of 1, 2, and 5 units, as well as banknotes of 10, 20, 50, 100, and 200 units. Zloty, literally translated as "golden" in Polish, was first used in the Middle Ages as the name for all gold coins of foreign origin. Later, close to the end of the 15th century, the Polish government ruled to establish a national currency, which would be called the zloty. During the Interwar and World War II periods, the currency had been repeatedly replaced by that of its respective occupiers as control of the country changed hands to Russia and then Germany. Following the recreation of the Polish Republic, the zloty was finally reissued as the nation's currency. Due to sharp fluctuations in the economy, the zloty was again reissued, this time containing more gold. At long last, the currency was preserved with new face values (probably because Polish citizens were sick and tired of all of the changes!) and given a place in the global marketplace. This modern currency, sometimes called the "new Polish zloty" (currency code: PLN) comprises of 100 groszy (another smaller monetary unit, singular: grosz), and has been Poland's legal tender since 1995.
Although zlotys are used for the majority of transactions in Poland, there are some superstores, called hypermarkets - comparable to Wal-Mart Supercenters - which do accept euros. Since joining the European Union in May 2004, Poland has been encouraged to exchange the zloty for the euro, however. The country had been planning on adopting the euro as its official currency in recent years, but the recent economic crises and mixed public opinion has stalled the decision-making process on the subject.
Besides being incredibly useful words while traveling in Poland, ZLOTY, ZLOTYS, GROSZ and GROSZY are all point-rich valid words in both Scrabble and Words with Friends. Make sure to thank a Polish friend every time you use them!
Example: Did you know that the first duke of Poland, Mieszko I, is on the 10 zloty note?
Origin
Zloty comes from the Polish word zloto, which means "gold." Originally derived from the Proto-Slavic word zolto, zloty has been found to be closely related to the Russian zoloto and Czechoslovakian word zlato also translated as "gold" or "golden." First used to denote foreign ducats in Poland in the 14th century, zloty eventually became the term for the Polish currency that is used today.
In Pop Culture
From Reuters' Poland president says no euro entry decision before 2015 ballots:
Poland is determined to join the front rank of EU decision-makers, and many in the government believe euro membership has become a prerequisite for that. But recent polls show that less than a third of Poles support abandoning the zloty in favor of the battered common currency. Poland also needs to change its constitution to adopt the euro and chances of that happening during this parliament are slim.
In 2013, Poland's president Bronislaw Komorowski was quoted as saying he believed the country should wait to adopt the euro until after the tumultuous upcoming parliamentary elections. The Reuters interviewer gives readers some background information on other concerns affecting the president's decision whether to exchange the zloty for the popular euro.
Mnemonic
- Winning a Polish slot machine will pay out in zloty.
Bring out the linguist in you! What is your own interpretation of zloty. Did you use zloty in a game? Provide an example sentence or a literary quote.