By Polish National Bank….
On Friday, February 12, the Polish National Bank (Narodowy Bank Polski, or NBP) will begin to introduce new 200-zloty (200 zł) banknotes into circulation with upgraded security. Banknotes of lower denominations with changed security have been circulating since April 2014; they represent more than 30 percent of all banknotes of 50- and 100-zloty denominations and almost 60 per cent of lower denominations. The new note ends the upgrading of banknote security features until the introduction of the 500 zł note, which goes into circulation in early 2017.
The graphic design of the 200 zł banknote has not changed, but the use of new, more technologically advanced security features are clearly visible. On the new bill, windowed threads take advantage of the optically variable effect. Fragments of thread smoothly change color from gold to green. On the front of the banknote is also a decorative element (a royal symbol) that smoothly changes color from gold to green, and on the back the same feature is found in an iridescent gold ornament. As in the case of lower denominations there is an enriched watermark.
Also introduced are additional facilities for the blind and visually impaired. The first are 10 diagonal stripes disposed along the short edge of the banknote. The same technology was also used in the new series of euro banknotes. Secondly, a golden triangle pattern in the lower left corner consists of small tactile wheels.
The level of counterfeit currency in Poland remains low – about six to seven counterfeit bills per one million banknotes in circulation. Recent technological progress, however, has required the modernization of security notes for general circulation. As a result, NBP will be increasing the security of cash transactions in the coming years.
Entering the upgraded banknotes into circulation should be a smooth process and cause few if any problems. The NBP reminds everyone that these notes will be put into circulation to replace cash withdrawn due to damage or wear. The upgraded banknotes for the four lower denominations, which the NBP started to release in April 2014, now represent about 40 percent of all banknotes in circulation. Research shows that Poles are satisfied with the upgraded banknotes – said Professor Marek Belka, President of the Polish National Bank.
At the end of January 2016, the saturation of modernized banknotes in circulation amounted to the following:
- 10 zł – 54%;
- 20 zł – 59%;
- 50 zł – 30%;
- 100 zł – 32%
In subsequent years, notes of previous issues will be found in circulation less frequently. They will remain legal tender indefinitely. In recent years we have seen an increase in the value of currency in circulation. Only in the last two years, it amounted to about 30%, or 37 billion zł. Particularly, dynamic growth has been noted in the case of banknotes in denominations of 200 zł; their number increased during this period by 55 million units, up nearly 40%. This reflects the increased demand for high-denomination banknotes – says Marek Oles, director of the Department of Cash and Issue.
NBP continues to work on a 500 zł banknote. The main purpose of introducing new denominations is to reduce the cost of emissions and to maintain efficient management of the supply of strategic notes held by the NBP. On the new 500 zł bill will be the image of King John III Sobieski. NBP has no plans to introduce 500 zł banknotes into circulation before the year 2017.
Designed by Andrzej Heidrich, the “Lord of the Polish” series of banknotes that we use today was introduced into circulation in 1995. At its constituent notes were portraits of Polish kings from the Piast dynasty and Jagiellons: Mieszko I, Boleslaw the Brave, Casimir the Great, Wladyslaw Jagiello and Sigismund I the Old. The manufacturer of all banknotes is the Polish Security Printing Works.
