Poland’s Currency – The Ultimate Guide when Travelling to Krakow

All you need to know about Polish złoty

Are you planning a trip to Krakow? That’s great, but I imagine that using unique Poland’s currency might be a little bit scary for you.

You don’t have to worry! Throw out every boring, practical guides and information booklets about Poland. Now let me turn you into a Polish money specialist. You'll become one only by reading this post! :)

Here is a comprehensive guide about Polish złoty – related things, which will make your trip or stay much easier (especially if you already have Krakow Card)!

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Poland and Currency, What Do You Need to Know?

I bet you would like to start with currency rate. So how does it look like?

• 1 Euro is ~4,7 zł
• 1 GBP is ~5,4 zł
• 1 USD is ~4,7 zł 

Below I will tell more about currency exchange rate and what are the prices. Stay with me!

Poland has its own currency called Zloty (PLN) - marked with short zł. 1 zł is 100 groszy which is like 100 cents in 1 dollar.

 

Some people are asking about “Krakow currency” but this is just a mental shortcut.

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Why Doesn’t Poland Use Euro?

Being totally honest with you, it just doesn’t make that much of an economic sense for us. Introducing new currency into the market is pretty expensive and usually markets are not prepared for that.

Our current minimum wage is ~1600 zł meaning about 400€ which could not be accepted as a wage. So all the owners would need to increase salary which they are not ready for.

This might cause an overall increase in wages etc. but at the same time would slow down the market for years.

Slovakia is an example where Euro caused more problems than benefits.

And at the end, I’m proud we have Polish Zloty :)

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A bit more about the Polish money

Zloty can be divided into 100 smaller units that are called grosz (abbreviated to gr).

Coins in circulation	Notes in circulation
1 gr	10 pln
2 gr	20 pln
5 gr	50 pln
10 gr	100 pln
20 gr	200 pln
50 gr	500 pln
1 pln
2 pln
5 pln

Interesting fact:

To help the blind and partially-sighted, Polish banknotes carry a special mark. The distinctive embossed shape is used to identify the value of the banknote in the following way:

Good tip: Make sure to always have some coins and small banknotes in your wallet. Various newsagents, vendors, or even small shops might not have enough cash to give you the change if you pay with a larger denomination. Asking people in the street to change banknote won’t be easy for a stranger either.

Does Polish zloty start to look familiar? Now you will find out where and how to get it!

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Complicated Polish Exchange Rate? Not at all!

Złoty exchange rate – cheatsheet for you!

Ever since Poland joined the European Union, the exchange rate for zloty has been fairly stable. 

Here’s how it looks:

	EUR	US dollar	UK pound	Złoty
Złoty	4,7	4,7	5,4	-
EUR	-	-	-	0,21
US dollar	-	-	-	0,21
UK pound	-	-	-	0,19

Good tip: services such as XE Currency Converter page always will show you daily, weekly, monthly, and annual breakdown of exchange rates.

But what it practically means?

• 35 zł = 7/8€ for a Regular meal at a restaurant
• 150 zł = 32€ for a hoodie in ZARA
• 300 zł = 64€ for a double room in 3/4 star hotel

Read more here about prices in Krakow.

Nice information for you?

As you can see the exchange rate is pretty favoring Euro, so if you are from a country, where you get your salary in Euro, you may like the conversion to PLN and really enjoy shopping!

Strong but unstable GBP. Why?

Actually, things have changed after the Brexit announcement. In past years, 1 GBP to PLN was worth almost 6 zł! Anyway, it’s still really cheap for British to travel to Poland and have a meal in a really good restaurant for 10 GBP. The exchange rate from Pound to Zloty is not so stable now, so we will try to update you as often as possible.

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How come Poland doesn’t have the euro?

Poland is a part of European Union since 2004, so it might come as a surprise that Euro isn’t here as national currency.

The terms of the Treaty of Accession with the European Union state that all new member states shall participate in the Economic and Monetary Union from the date of accession as a member state with a derogation.

What does it mean?

It means that Poland is obliged to replace the zloty with the euro in the future, but at the moment, there is no real target date for the Polish euro adoption.

So it won’t happen in the nearest future.

Some claim, that Poland won’t join the Eurozone until at least 2020, so if you’re planning to travel to Poland soon, don’t expect your Euros to do the trick.

Why does it take so long?

According to recent polls, the general public opinion is against participating in the Eurozone. They show, that even more than 70% of surveyed Poles believe that the adoption of the euro would be bad for the Polish economy.

I like to use złoty. I’m afraid that introduction of the euro won’t be a good change for Polish people. – Kasia

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Can you pay in other currencies?

Unfortunately, in most places, it is not possible to pay with Euro or US Dollars. Only some hotels and shopping malls might accept such currencies. That’s why looking for the right place to exchange your money should be on the top of your 'to-do' list.

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Want to exchange money in Poland? No problem!

If you arrive with a wallet full of euros or dollars, don’t worry. Złoty is fully convertible and it's rate of exchange depends on the current state of the exchange market.

But do not stress!

The best option is to exchange money once you arrive, but until you get your hands on polish złoty, you can easily pay with your debit or credit card.

If you want to get the first-hand impression about złoty, watch this video:

Places, where you can get polish money in Krakow – list of clues

Banks are the easiest places you can find, to get Poland’s money. You will exchange there practically any of the world’s currencies.

But it’s not the only way!

Since the money market is free, individual banks, Forex businesses, currency exchange bureaus and hotel reception desks also can buy and sell złoty at the price they wish. Naturally, the competition flattens the rate, but it’s still a good idea to shop around before you settle for a deal.

You can still find better exchange conditions!

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The magic word? KANTOR!

It’s a common knowledge in Poland that banks won’t give you rates that are as good as the ones you get at smaller exchange bureaus called ‘kantor’. Where can you find kantors? They are usually located in bureaus in city centers, larger hotels, trains stations and shopping centers.

But remember!

These exchange bureaus usually accept only major currencies such as the American dollar, the British pound, euro, the Canadian and Australian dollar. But there is a huge possibility that you will find there also Swiss franc and other currencies of some European countries, such as the Hungarian forint or Czech koruna.

If you decide to exchange money in one of the exchange bureaus, you should know that in general, they buy dearer and sell cheaper than banks.

Be smart!

Some of the exchange bureaus might be trying to cash in on the ignorance of tourists and offer much higher rates. Remember that finished transactions cannot be reversed there.

 Last but not least:

Once you arrive, make sure to avoid kantors located close to the Main Square as they’re often dodgy. Some trusted exchange bureaus in Krakow are located on Slawkowska street (for example, Grosz at Slawkowska 4) and Kantor Karmelicka on Karmelicka 22.

And, to be honest, you don’t have to panic if those places will be hard for you to find at the beginning. Some nice local people will show you the way – just ask them!