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1 Dollar Foreign Exchange Certificate
| Issuer | Bank Polska Kasa Opieki SA (Bank Pekao SA) |
|---|---|
| Year | 1960 |
| Type | Exchange certificates |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PEKAO BON TOWAROWY Upoważniający do pobrania towarów eksportu wewnętrznego wartości $1$ JEDNEGO DOLARA BON TOWAROWY MOŻE BYĆ ZREALIZOWANY JEDYNIE W DRODZE POBRANIA TOWARÓW EKSPORTU WEWNĘTRZNEGO W JEDNYM Z PUNKTÓW SPRZEDAŻY BANKU POLSKA KASA OPIEKI S.A. Bank Polska Kasa Opieki SA WARSZAWA, DNIA 1 STYCZNIA 1960 R. |
| Reverse description | Log in to see details |
| Reverse lettering | PEKAO BONY TOWAROWE BANKU PKO S.A. NIE PODLEGAJĄ UMORZENIU I W ZAMIAN BONÓW UTRACONYCH BANK PKO S.A. NIE WYDAJE DOKUMENTÓW ZASTĘPCZYCH. |
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| Comments |
Pewex — the state-run hard currency retail chain — was the primary circulation point for these certificates. The Polish government created this parallel currency system to capture foreign exchange held by citizens receiving remittances from relatives abroad, principally in the United States. Rather than letting dollars circulate informally, the state funneled them through Pekao SA, which issued these certificates redeemable only at Pewex stores stocking Western goods unavailable through normal socialist retail channels.
The certificates were not legal tender and could not be exchanged back into dollars. That asymmetry was the whole point.