Euro vs Polish Zloty (EUR/PLN)

Trading Conditions:

Axi Symbol: EURPLN

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3 Day Financing: Wednesday

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Pricing is indicative. Past performance is not a reliable indicator of future results. Client sentiment is provided for general information only, is historical in nature and is not intended to provide any form of trading or investment advice - it must not form the basis of your trading or investment decisions.

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What is EUR/PLN?

The EUR/PLN currency pair indicates the exchange rate between the euro and the Polish zloty, or the number of zlotys (the quote currency) required to buy one euro (the base currency). The currency pair is susceptible to volatility and can offer diversification opportunities to forex traders.

The Narodowy Bank Polski (NBP) National Bank of Poland issues and manages the Polish zloty, the country's official currency. It was officially introduced to supplant the Polish marka on February 28, 1919, and circulation began in 1924. In 1995, Poland's post-communist government instituted a new zloty at a rate of 10,000 old zlotys to one new zloty in an effort to stimulate the economy. In Central and Eastern Europe, the zloty is the most traded currency.

The euro is the official currency of the Eurozone, which consists of 19 of the 27 European Union member states. In 1999, it was introduced digitally, and in 2002, it was introduced physically. Under the watch of the European Central Bank (ECB), it functions as an international reserve currency and medium of exchange. Even though Poland joined the European Union (EU) in 2004, it has yet to set a target date for adopting the euro, though it intends to do so as soon as possible.

What affects the price of the EUR/PLN pair?

In addition to political events and geopolitical crises, the economic performance of the Eurozone is a crucial factor in determining euro pricing. Elections, policy adjustments, Brexit-related developments, tensions between EU member states, and worries regarding the Eurozone's future are all potential factors that could influence euro market sentiment. The EUR/PLN exchange rate can be affected by news pertaining to Poland's economic expansion, inflation rates, and fiscal policies.

The trade balance between the two regions is another factor influencing the relative value and future direction of the currencies. The majority of Poland's exports, which include automobile parts, machinery, electronics, and furnishings, are sent to Germany, the Czech Republic, France, the United Kingdom, and Italy. Poland imports primarily automobiles, petroleum oil, and parts and accessories mainly from Germany, China, the Netherlands, Italy, and the Czech Republic. A trade surplus can strengthen the Polish zloty, whereas a trade deficit can contribute to depreciation.

The EUR/PLN exchange rate is also affected by how central banks manage their respective economies through interest rate policies. For example, if the European Central Bank (ECB) decides to reduce interest rates, the euro's value relative to the Polish zloty may decline. Likewise, if the National Bank of Poland (NBP) raises interest rates, the zloty will strengthen, and the EUR/PLN pair will fall.

The decisions of the European Central Bank (ECB) regarding interest rates can impact the euro's strength against the Polish zloty. If the ECB decides to reduce interest rates, the euro could fall against the zloty. Similarly, the National Bank of Poland's (NBP) interest rate policies influence the performance of the zloty. If the NBP decides to raise interest rates, the zloty may appreciate, which may have an effect on the EUR/PLN exchange rate.

What to watch out for when trading EUR/PLN?

Keep a watch on data releases and statements from influential organisations in Poland, the Eurozone, the European Union, and individual member countries (especially Germany and France, Europe's largest economies) when trading EURPLN.

  • The National Bank of Poland (NBP) and the European Central Bank (ECB) make decisions regarding interest rates and monetary policy
  • Statistics Poland and Eurostat provide information regarding the trade balance, wages, unemployment rate, Consumer Price Index (CPI), and Gross Domestic Product (GDP)
  • Eurozone manufacturing and services PMI
  • Consumer confidence in Europe
  • Economic data for major eurozone countries (Germany, France, Italy, and Spain)
The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.

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