Polish złoty

The złoty (alternatively zloty; ˈzwɔtɨ; abbreviation: zł; code: PLN) is the official currency and legal tender of Poland. It is subdivided into 100 grosz (gr). It is the most traded currency in Central and Eastern Europe and ranks 21st most-traded in the foreign exchange market. The word złoty is a masculine form of the Polish adjective 'golden', which closely relates with its name to the guilder whereas the grosz subunit was based on the groschen, cognate to the English word groat. It was officially introduced to replace its predecessor, the Polish marka, on 28 February 1919 and began circulation in 1924. The only bodies permitted to manufacture or mint złoty coins and banknotes are Polish Security Printing Works (PWPW), founded in Warsaw on 25 January 1919, and Mennica Polska, founded in Warsaw on 10 February 1766. As a result of inflation in the early 1990s, the currency underwent redenomination. Thus, on 1 January 1995, 10,000 old złoty (PLZ) became one new złoty (PLN). As a member of the European Union, Poland is obligated to adopt the euro when all specific conditions are met, however there is no time limit for fulfilling all of them. The term "złoty" is an adjective derived from the noun "złoto", which in the Polish language denotes gold. A literal translation of the currency's name would be "golden" or "the golden one". The closest English pronunciation of the word is ˈzwɒtɪ. There are two plural forms – złote ˈzwɔtɛ as well as złotych ˈzwɔtɨx, and their correct usage is as follows: 1 – złoty or grosz [ˈzwɔtɨ] / [ˈɡrɔʂ] 2...4; 22...24; 32...34 (...), 102...104, 122...124, 132...134, (...) – złote or grosze ˈzwɔtɛ / ˈɡrɔʂɛ 0, 5...21; 25...31; 35...41 (...); 95...101; 105...121; 125...131; (...) – złotych or groszy ˈzwɔtɨx / ˈɡrɔʂɨ Fractions should be rendered with złotego zwɔˈtɛɡɔ and grosza ˈɡrɔʂa, for example 0.1 złotego; 2.5 złotego and so on. Native English speakers or English-language sources tend to avoid the complexity of plural forms and in turn use "złoty" for all denominations, for instance 2 złoty and 100 złoty instead of 2 złote and 100 złotych.