Return PolishForums LIVE
  PolishForums Archive :
Archives - 2005-2009 / News  % width 18

Zloty goes down, good news for ex-pats in Poland


Macduff 9 | 69  
4 Feb 2009 /  #1
Good news for Ex-pats living in Poland. I being a Brit see the Zloty is 5.2 to the pound the question is do you think it will keep getting higher or is this a good time to cash in the British pound or stll wait for a while yet?
Cardno85 31 | 976  
4 Feb 2009 /  #2
That's a great rate. Is that the rate in Kantors or is that the rate on the net? Keep in mind there will always be differences there. I would personally cash in now, I can't see the UK economy (and, as such, the pound) going much higher.
OP Macduff 9 | 69  
4 Feb 2009 /  #3
This is the rate on the net I will have a look at the Kantors later to day. Also make an appointment with the Bank.
Polanglik 11 | 303  
4 Feb 2009 /  #4
excellent rate if you're converting £'s to zł.

just checked on xe.com and the exchange rate was 5.255zł : £1

will the rate get higher ? I wish I had a crystal ball :o)))
Wroclaw Boy  
4 Feb 2009 /  #5
just checked on xe.com and the exchange rate was 5.255zł : £1

will the rate get higher ? I wish I had a crystal ball :o)))

and 1 eur = 4.65 pln, i would change up now.
sausage 19 | 777  
4 Feb 2009 /  #6
will the rate get higher ?

I hope so (and for Polish property prices to plummet).

just checked on

This website is pretty good. You can sign up for a daily email of exchange rates.
OP Macduff 9 | 69  
4 Feb 2009 /  #7
I do expect the property prices to take a dip but not a plummet (I hope i,m wrong) but if it drops by 20% and the pound rises by 20% then I will be buying either a flat, house or even just some land with in the next 5 months.
Grzegorz_ 51 | 6,163  
4 Feb 2009 /  #8
Generally PLN should soon go down at least a bit more but British economy is in deep shit too, so It's hard to say how the PLN/GBP rate will look like. Simple way to diversify the risk is: convert half of the cash to PLN now, wait with the rest and watch the trends carefully.
mephias 11 | 304  
4 Feb 2009 /  #9
It's very bad for me. I got a job offer from Poland 3 months ago and offered salary was Zloty which goes down around % 20 against euro and I am still waiting for residence permit. It's a multinational company.

Should I ask for a increase in the salary before start ?

Does it have a effect on Living cost in Poland ?

What is the expectation for zloty in coming months ?
BLS 65 | 188  
4 Feb 2009 /  #10
Should I ask for a increase in the salary before start ?

Would you offer to decrease your salary if this trend was reversed? Say, if the zloty was UP 20% against the Euro? I kinda doubt it...
mephias 11 | 304  
4 Feb 2009 /  #11
You are right but in negotiation phase I tried for a salary on Euro base but they did not accept.

And it won't really problem for me if it doesn't effect cost of living in Poland at same level ( around % 20 )

The problem is it may not be a kind behaviour to ask for a change after they apply for work permit and everything was set. So most probably I won't do this.
subs - | 1  
4 Feb 2009 /  #12
good news for polish economy,exports become more competitive
good news for people who earn in other currencies and spend in poland
but disaster for people who earn in zloty nd spend mostly in euros/dollars :(
Seanus 15 | 19,706  
5 Feb 2009 /  #13
Bad news for Brits who send money home which, thankfully, I don't.

BLS, you are competing with Greg I see, LOL
mephias 11 | 304  
5 Feb 2009 /  #14
What happened in Poland yesterday ? It's more like a devaluation and the decrease in offered salary again decrease around % 10. Is it all because global crysis ?

In this case I think I should ask for an adjustment before start because after this currency changes (Before that it was % 30 more ) offered salary is nearly lesser than my current salary.
Wroclaw Boy  
5 Feb 2009 /  #15
(Before that it was % 30 more ) offered salary is nearly lesser than my current salary.

I wouldnt worry to much about it, FX exchange rates are just a big game. The PLN will be back up at some point and then you'll be complaining the other way if you change now.

I get paid in many currencies and at the moment i try to insist on the Euro if possible. Its a strong currency at the moment and will be for a few years imo.
HAL9009 2 | 304  
14 Feb 2009 /  #16
Euro is the way to go.
Złoty will stay low for now - this will bring inflation to Poland in a few years' time, so not so good news. Same goes for Sterling and USD. Any country that effectively allows its exchange rate to go artificially low will experience inflation as a result.

Times aren't too good.
Neil63 6 | 57  
17 Feb 2009 /  #17
The pound is undervalued, sure we have problems maybe big ones but then so does every country..... Polands interest rates are heading south and that will reflect in the coming months in the zloty dropping against the pound, I can see it hgoing back to 5.80
Wroclaw Boy  
17 Feb 2009 /  #18
I can see it hgoing back to 5.80

4.88 PLN - the EUR, unbelievable. i got 3.8 6 weeks ago.

Archives - 2005-2009 / News / Zloty goes down, good news for ex-pats in PolandArchived