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1 Cent Foreign Exchange Certificate
| Issuer | Bank Polska Kasa Opieki S.A. (Bank Pekao S.A.), Warsaw |
|---|---|
| Year | 1969 |
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| Printer | Polish Security Printing Works (Polska Wytwórnia Papierów Wartościowych S.A.), Warsaw, Poland (1919-date) |
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| Obverse description | Light green guilloche underprint across the entire field, framed by a fine ornamental border. The Pekao bank logo appears at centre-top, with the denomination vignette — an oval guilloche medallion in gold and dark ink bearing "$0,01$" — at centre. Authorisation text in Polish is set to the left, redemption conditions to the right, with "JEDEN CENT" in large bold type below and the issuing bank legend along the bottom. |
|---|---|
| Obverse lettering | BON TOWAROWY EI 0153684 Pekao UPOWAŻNIA DO POBRANIA TOWARÓW EKSPORTU WEWNĘTRZNEGO WARTOŚCI $0,01$ BON TOWAROWY MOŻE BYĆ ZREALIZOWANY W KAŻDEJ PLACÓWCE BANKU POLSKA KASA OPIEKI S.A. JEDEN CENT BANK POLSKA KASA OPIEKI S.A. WARSZAWA, DNIA 1 LIPCA 1969 ROKU |
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| Comments |
Pewex — the state-run hard currency retail network — underpinned the entire reason these certificates existed. Poles with access to Western currency were required to exchange it at Pekao's official counters, receiving these certificates in return, which could then be spent in Pewex stores on imported goods unavailable through normal socialist retail channels. The 1-cent denomination is the lowest in the 1969 series, useful for making change in a system that needed to function like a parallel economy without actually being one.
The certificates were non-convertible back into foreign currency, which was entirely the point — the state captured the hard currency and retained control of it.