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EXCHANGE RATES BETWEEN POLISH ZLOTY AND BRITISH POUND


Neil63 6 | 57
27 Dec 2007  #1
I am sure that many Polish returning to their families for Christmas would not be happy at the exchange rate between Poland & the UK. Today it is 4.90PLN = £1.00. This rate is less if you exchange at the airport. A year ago it was 5.80PLN = £1.00, in October 5.25PLN = £1.00. I would be interested to hear from anyone how high or how low the Zloty has been in recent years against the pound.
Frank 23 | 1,183
27 Dec 2007  #2
Yes, Neil if it continues, it will seriously dampen Polish competitiveness, especially if it has also appreciated against the Euro.......UK pound has lost 10% this year against the Euro in 1 year too, so it appears similar to the loss against the zloty.

It appears to be more a weakness in UK pound than strength of either Euro or zloty.
Grzegorz_ 51 | 6,170
27 Dec 2007  #3
In long term PLN will be getting stronger and with all these foreign investments, EU funds, cash from immigrants and foreign tourists It simply must happen but yes indeed in case of GBP and especially USD It's more about these currencies getting weaker than PLN getting stronger. In case of EUR (which really matters in case Polish trade) It's only ~6% weaker to PLN than It was 2 years ago and 11-12% weaker than when EUR appeared on the market.
Harry
28 Dec 2007  #4
Neil63 wrote:

Your wish is my opportunity to relieve the boredom of office life

nbp.pl/ArchEn.aspx

Personally I'm less than amused by the recent changes. In June I accepted a commission to write a book for a British publisher. Back then the rate was 5.7zl = £1. Now they have accepted the manuscript and are ready to pay me I've lost 15% of my payment!
ukpolska
28 Dec 2007  #5
When I first came here in the year 1999 the rate went up to 7zl per pound and it was so dam cool, because I brought with me £2000 for two weeks and trying as hard we could we couldn't spend it, although we, my now wife and I had a dam good go :O)
OP Neil63 6 | 57
28 Dec 2007  #6
In June I accepted a commission to write a book for a British publisher. Back then the rate was 5.7zl = £1. Now they have accepted the manuscript and are ready to pay me I've lost 15% of my payment!

Sorry to hear that - I have bought some properties in Poland (long term investment and I intend to spend more time there - really like the country) and we have just had to pay the deposits - me and the guy I am buying with have had to stump up another 10% in sterling to get the equivalent in Zloty.
pacmanover
10 May 2010  #7
Thread attached on merging:
exchange zloty for pounds

hi everyone , i want to excange sloty into pounds ,i know i have to watch the excange rate but this is my first time,I expect to have ok 300,000pln, i have a krydet bank acc, will kredyt bank simply transfer the funds to a british acc or do i use some other system, any advice please, thanks in advance
andy b 4 | 156
10 May 2010  #8
Your bank will be able to do it for you, but the exchange rate will not be great.
In this situation, it is best to use a specialised currency exchange company - personally, I have used a company based in the UK called Worldwide Currencies, and they always offer a much better rate than banks which will save you a lot on a transfer of this amount: worldwidecurrencies.com
pacmanover
10 May 2010  #9
thanks andy, if i excange at for eg. 4.5 pln to £1 what should the actual rate be for me?
andy b 4 | 156
10 May 2010  #10
300 000 PLN / 4.5 = 66 666 GBP

The thing about these currency companies is that the rate they offer includes their commission, so if they give you a rate like 4.5 PLN / 1 GBP, then that is the rate you get - there are no extra charges
pacmanover
10 May 2010  #11
thanks again andy
irishlodz 1 | 135
10 May 2010  #12
phone your bank and ask them for a special rate. you should pay about 5/6 grozy commission. e.g if the official rate is 4.63 then you should get about 4.7:1 which would mean you get 63,829pounds.

We were quoted a 10 grozy margin by our bank online but they cut it to 6 when we phoned and haggled.
Wroclaw Boy
10 May 2010  #13
If I was you id open a sterling account with your current Polish bank, take out 50,000 PLN at a time and walk to a kantor and exchange it cash for cash there, they give the absolute best exchange rates, it most probably would be around a £800 saving when all said and done on 300,000 PLN. Then pay that money into your sterling account in Poland and just transfer to a UK bank account GBP - GBP no fuss.

For example if the Zloty base rate is say 4.8 PLN - 1 GBP, a bank will give around 4.55 they may negotiate on large amounts) a UK FX company 4.62-6.8 (depending on amount) but a kantor approx 4.72 for anything over 10,000 PLN. Ive used them all for years.

I have used exchange companies in the past and one of them went into insolvency whilst they had my money, so im sure you can understand im a little scepitical of those.

Also the zloty has just strengthend against the pound over the week end, 4.8 to 4.63, now would be a great time to change. The currency exchange rates are very volatile at the moment.
pacmanover
10 May 2010  #14
thanks wroclaw , food for thought, good man irishlodz ,the whole thing needs a wee bit of thought. are worldwidecurrncies a reputable company??
andy b 4 | 156
10 May 2010  #15
are worldwidecurrncies a reputable company??

Like Wroclaw Boy says, there are lots of currency exchange companies out there.

We have been recommending Worldwide Currencies to our clients for more than 4 years and no complaints
pacmanover
10 May 2010  #16
fair enough, cheers
milky 13 | 1,657
16 Oct 2010  #17
Zloty seems to be getting very strong.
THE HITMAN - | 236
16 Oct 2010  #18
WHY ? ................ Optimistic forecasts ?

They claim to have a strong domestic market, but that,s absolute rubbish when compared to the rest of europe. ( and I do get around )

Beats me. I think something is gobbledygook.
SeanBM 35 | 5,809
16 Oct 2010  #19
WHY ? ................ Optimistic forecasts ?

GBP 4,4470
dtaylor5632 18 | 2,007
16 Oct 2010  #20
it will rise till 4.80 before the end of the year.
Smokeyone 17 | 62
29 Oct 2010  #21
What's the forum's views on the exchange rate at the moment. I am over to Poznan again in a few weeks - trying to decide whether to change Sterling (I usually go the the little Kantor

in front of Poznan station on the left) or to withdraw some Zlotys from my Polish savings account.
terri 1 | 1,598
29 Oct 2010  #22
Smokeyone-
if we knew that we could all make a killing. The only time that it's worth exchanging sterling is when it's 4.7 PLN and it will get there soon. Less than that use Polish money.
Wroclaw Boy
29 Oct 2010  #23
4.57 today looks like a revival is on the way, must admit i didnt think that would happen.
Smokeyone 17 | 62
29 Oct 2010  #24
Will follow the advice as everybody else's guess always seems to be better than mine.....
SeanBM 35 | 5,809
30 Oct 2010  #25
4.57 today looks like a revival is on the way

Yep. GBP 4,5950

What's the forum's views on the exchange rate at the moment.

You can look at the archive of NBP (on right) and see the level it has been over the months/years.
After that, your guess is as good as mine.
Wroclaw Boy
4 Nov 2010  #26
Yep.
GBP 4,5950

4.44 - back down again today.

4.57 today looks like a revival is on the way, must admit i didnt think that would happen.

Should have changed up my cash last week damn it.
SeanBM 35 | 5,809
12 Nov 2010  #27
4.44 - back down again today.

GBP 4,5126
And up again...
It seems to be wavering between 4.4-4.6 these days.
Wroclaw Boy
12 Nov 2010  #28
4.62 right now, I'm predicting up to 4.75 maybe 4.8 within two weeks.
Varsovian 92 | 634
12 Nov 2010  #29
Interesting - I sometimes take my eye off the ball. The euro is certainly going to get hammered over the next month - all the newspapers will be taking it in terms to say the news is driving the market.

The dollar is also set to rise - because it's so cheap.

Everything comes in waves.
Smokeyone 17 | 62
17 Nov 2010  #30
Just returned from Poznan - I changed Pounds at 4.50 but if I had waited a day I would have got 4.58 - having said that the Kanta chap best guess view was the Zloty going to 4.35

to the Pound. Still cannot understand the number of expensive cars that seem to be around.
I was waiting outside Zbaszynek station, just an ordinary Polish town, when a Porsche pulled up...pity it was'nt mine...


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