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The złoty (pronounced [ˈzwɔtɨ]  ( listen); sign: zł; code: PLN) literally meaning "golden", is the...

The złoty (pronounced [ˈzwɔtɨ]  ( listen); sign: zł; code: PLN) literally meaning "golden", is the currency of Poland. The modern złoty is subdivided into 100 groszy (singular: grosz, alternative plural forms: grosze; groszy). As a result of inflation in the early 1990s, the currency underwent redenomination. Thus, on 1 January 1995, 10,000 old złotych (PLZ) became one new złoty (PLN). The złoty (gulden) is a traditional Polish currency unit dating back to the Middle Ages. Initially, in the 14th and 15th centuries, the name was used for all kinds of foreign gold coins used in Poland, most notably German and Ruthenian ducats. In 1496 the Sejm approved the creation of a national currency, the złoty, and its value was set at 30 groszy, a coin minted since 1347 and modelled on the Prague groschen. The grosz was subdivided into 2 poltura or 3 solidi. The name złoty (sometimes referred to as the florin) was used for a number of different coins, including the 30 groszy coin called the polski złoty, the czerwony złoty (Red gulden) and the złoty reński (the Rhine ducat), which were in circulation at the time. However, the value of the Polish złoty dropped over time relative to these foreign