Poland to Introduce 500 Zloty Banknote
- New Europe Investor
- June 23, 2015
The Polish central bank has announced that it is to introduce a 500 zloty bank note.
The note according to the central bank, will be introduced within the next two years.
The bank’s head, Marek Belka, has said that the face of the 500 zloty bill will be King Jan III Sobieksi, one of the most notable monarchs of the Polish-Lithuanian Commonwealth. He died in 1696.
Presently, the largest note in circulation in Poland is the 200 zloty note, which is the equivalent of €48. The euro equivalent of the 500 zloty note will be 120.
The reason presented for the new larger denomination according to the central bank, revolved around the need to lower the cost of maintaining bank reserves.
Belka also unveiled a new 200 zloty note to be introduced in February of next year.
The alterations on the 200 zloty banknote will be only minor, such as changing the shade among other touch ups.