Zloty climbs as ratings agency upgrades Poland

bloomberg.com/news/2013-02-22/zloty-climbs-as-fitch-revises-poland-rating-outlook-to-positive.html

The GBP seems to have been battered since this announcement, and is now down quite a bit compared to last week against PLN, it would seem not just because the UK lost its AAA with Moodys.

PLN climbs?I see it -1.1% to USD today.

Yep. And the dollar is down to the yen by .886. Economic relativity.

Certainly climbed against the UK pound, am really sorry I didn't convert more pounds a few weeks ago. A quid buys 4.59zł today at kantors here. That's quite a drop since early Feb and approx 20% down since autumn 2012.

You can negotiate with any amount over 100GBP. Anything over 500GBP and you can expect them to move quite a bit on the rate.

Strange you will get 4.73 here in Warsaw kantor-intraco.pl

centkantor and the main ones - 4.59 (last checked at the kiosk in a mall at 8pm) link centkantor.pl
see screen capture below


Yes, indeed some will. Some won't of course.

• 
  4.59 to the pound cent kantor
  

That is financial rape Inwro. Better move to Waw you get more for your money Bud.

I'm seriously thinking of moving! Just can't find any accommodation here -- if it's half decent in a reasonable street, it's let really fast or very expensive. One of the two. Fed up with this, I really am. (Anything up to 1500 plus service charges, seems to let rapidly if it's any good. LLs ain't taking offers when I try. Not a penny off.)

My guess is GBP will be get stronger this week against Euro and PLZ as the Italian debacle unfolds.

I thougt it was the pound dropping rather than the zloty climbing because zloty against euro hasn't changed.

anyway, fluctuations are the norm.

That was a marked drop, caused by the UK losing Moodys AAA and the PLN gaining strength due to the Fitch upgrade. Fluctuations of that magnitude in hours are not the norm, no.


That's what I hope for, but you have an official at the central bank in the UK today talking about them perhaps introducing negative interest rates there, and so that would weaken GBP most probably. It might just be talk, though.

Everyone has there own opinion, I would guess with the current problems surrounding Cyprus and Italy the Euro will come under pressure, I also believe the PLZ will come under pressure as it is on the periphery of the Euro, if Germany sneezes Poland catches a cold. GBP and US$ will be the benefactors of this uncertainty. My opinion.

Is it PLZ or PLN? I thought it was PLN (N for new Złoty).

just in case you did not know we are in currency wars, every major country is devalue their currency to make their export cheaper, my prediction is Poland finance ministry knows it and they will print or devalue their money as everyone else.

Inwro I was speaking to someone in Wro today and mentioned about the currency exchange. They suggested this place

kantordukat.pl

I miss the days of 7zl to the £.

Nothing would surprise me.


Thanks for that.

PLZ was replaced by PLN old habits die hard...

:o)

Thanks again for the link above, they're at least 10gr higher than the other one. Great stuff!

you will never see that again

How about 2.1PLN to 1$ that I still remember, back in June 2008? :-) Shopping in US was so much more fun! :-)

you propable see 1 pln to $1 sooner.

Good, the dollar is overvalued. Cheaper dollar means higher imports cheaper exports = more jobs.

it means higher prices like a inflation and bond market collapse, and U.S. does not manufacture anything anymore so no more jobs just inflation.

That's my whole point, the US doesn't manufacture anymore because of the overvalued dollar. Why do you think China pegs it's huan to the dollar? and Switzerland's franc to the Euro? This isn't rocket science. All a strong currency does is encourage imports at expense of local jobs.

I hope zloty goes out of fashion. Murdoch will never invest in Poland if its not attractive for him, the market is down but they should focus on the Poles with cash and educate them as to what should be done. Last week certain influencial Israeli investors arrived but left even quicker, not interested in mindless deals.

I guess Larry Silverstein was very smart then...

Meathead


That's wrong. First of all, the dollar is not overvalued, certainly not against the €

Second, how do you reconcile the fact that Switzerland, a country with arguable the strongest country in the word has still a very strong local industrial base. It is , with Germany, the european country where industry represents the highest proportion of gdp (ca 28% vs less than20% in the USA)

Good for me because I only buy danish krone