Polish Zloty rates 2011

Here are the rates this morning:

USD/PLN 3.0818 09 SEP 2011
EUR/PLN 4.2803 09 SEP 2011
GBP/PLN 4.9201 09 SEP 2011
CHF/PLN 3.5308 09 SEP 2011

For all you currency speculators, if you are connected to Poland in any way through business or investment a stable exchange rate can mean the difference between " profit and loss" the PLN has been up and down like a " whóres nickers" for the last two years:

How low can it go or will it bounce back from here on in ? Over to you for your forecasts, thoughts and predictions on all things PLN !

Anyone care to answer the question above? looks like the zloty weakens when the Euro gets further into trouble...

ok, but they are all low. why would the zloty be the only currency to gain strength. It will always follow the Euro- for obvious reasons.

I don't have a forecast but I am HOPING for a USD at 2008 lows meaning 1 USD=2 PLN.

Not gonna happen.

I'm really paying close attention to this. As of now, it's $1 = 3.27zl. I wonder if the Zloty will get weaker or stronger. It's a pretty good time to exchange.

If the euro collapses will the zloty be pretty worthless,or what??

Why do you find it surprising? It's normal flock behavior very common to currency trading but also to stock trading, precious metals trading, oil, etc. When investors get spooked they seek assets perceived as "safer."

The Złoty might bring in somewhat higher rates but when there's turmoil people prefer stability over rates. Yet the "stable currencies" have problems of their own. The US has issues with our budget deficit and a huge debt ratio, Japan has the budget deficit AND a strengthening currency which hampers the Japanese export market; how high can the YŽen go before the Japanese economy collapses? The £ is weak due to the weak economy and the huge debt ratio which of course warrants a low interest rate. In general a low rate equals a weak currency but not always, look at Japan. The euro zone suffers from high debt in some member states AND unclear rules on how to proceed?

So people jump from one "safe bet" to the other and even to some smaller currencies. Yet when s&@t hits the fan they all prefer the lousy rates in the $€ŽY£ currencies over the higher yielding but even more volatile, smaller currencies.

If Greece gets pushed out of the €-zone, initially the €uro will plummet but in the long run it'll strengthen from the transition, think of it as outsourcing of the bad, Greek debt. Złoty will be all over the map during this period and it'll rise and drop based on the rumor of the day. 3-6 months after the transition (IF it happens) things will slowly return back to the more normal, less volatile appreciations and depreciations. The end of world isn't here yet. ;)

if Greece gets the Push the safe haven currencies will be US$ C$ and Aus$

It's possible but highly doubtful that the Canadian and the Australian dollars will benefit so much. Just a few months ago the Canadian looney traded higher than the US dollar but as soon as the Euro crisis began to unravel the US dollar became stronger. The Aussie dropped as well although it's still stronger than the US dollar. It'll probably stay that way for a while, the precious metals are bringing the Aussie up (think mining industry). By the way, I forgot to add the Swiss frank into the "safer currencies" club, like Japan though the strong currency might hurt their long term exports which of course would hurt their economy which would affect the value of the currency (it'd drop).

I understand we are talking about a specific scenario, which is the exclusion of Greece from the Euro currency, If that was to happen then it would affect not only the Euro, but sterling as well.

USD, would appreciate as institutions would follow back to base policy.
C $ and Aus$ are both commodities backed currencies, seen as safe havens in times of political uncertainty/ financial turmoil.

Gold would sink as everyone would want to be in cash.

Swiss Franc may not appreciate as much as you think, most of the financially wealthy from Austria and Germany already have their money in CHF.

There will be a sharp fall in Global stock markets in the 2-5 weeks as fund managers try to salvage their portfolios for 2011, by cashing in on best performers to tie in their end of year bonuses.

And today:
USD: 4.6 PLN
EUR: 4.7 PLN
GBP: 5.6 PLN

This means dollar gained a lot, while euro and pound gained a little.

How about the Ruble? Ive heard Putan has been doing quite well despite the 1/2 measured sanctions that were supposed to bring the RuSSians to their knees.

It lost. In 2011 it was worth 0,1015, while today 0,085 PLN.


It is slowly happening. Do you know that RuSSists are going to produce cars in 1990s mode? Imagine yourself being able to buy a new car which was designed and produced 30 years ago. E.g, Yugo. :):)

The true is, Polish Key Currency is Euro.
USD or GBP are only peanuts.

The rouble is artificially inflated due to them having to use their foreign currency reserves es.


Rubbish. Several million Poles earn their salary in those currencies and fortunately Poland has steadfastly refused to join the eurozone.

@jon357
All exports from Poland are 85% invoiced in Euro and only 15% in (all) other currencies. As I said, peanuts.

Probably because they export to the nearest states.


15% of Polish exports is not 'peanuts' however, as you were told, millions of Poles earn their salaries and have their pensions in Sterling and USD.

The current decline of the euro is also far from finished.

@jon357
Polish exports 2021 - 600 bln Euros
Money brought from the UK by Poles for the last 14 years - 45bln ZL ( about 10bln Euros in 14 years - peanuts !!!)

You're still missing the point, I see...

And no, not leanness despite your googling.