Which institution is Poland’s central bank and sole issuer of the Polish złoty?

The National Bank of Poland is Poland’s central bank and sole issuer of the Polish złoty.

Known in Polish as Narodowy Bank Polski, the institution is responsible for monetary policy, currency issuance, and maintaining the stability of the national currency. It also manages Poland’s official foreign-exchange reserves and supports the stability of the financial system.

The bank was established in 1945, shortly after the end of the Second World War. Its headquarters are in Warsaw. The president of the National Bank of Poland chairs the Monetary Policy Council, which sets key monetary-policy parameters such as interest rates.

A common mix-up is confusing the National Bank of Poland with commercial banks that offer accounts and loans. The National Bank of Poland is a public central institution, while commercial banks operate in the retail and corporate banking market. Poland uses the złoty rather than the euro, although it is a member of the European Union.