The Euro was worth 5 PLN and that for the first time in history

The euro exchange rate on Monday (7 of March) broke  the  symbolic limit of 5 PLN on the forex market around noon yesterday. That was for the first time in history!

The Swiss franc was also very close to this level, while the dollar price jumped to 4.62 PLN.  

Exchange rates: 1 Euro for 5 zlotys 

However, after 13 pm the zloty started to appreciate significantly. The balance at 1-50 pm the franc a PLN 4.94, euro to 4.95 PLN, dollar at 4.54 PLN.

It looked like another monetary intervention by the National Bank of Poland (NBP), although there was no official confirmation of such a move (although the NBP may announce it with a delay or even not do it at all).

Unfortunately, in the afternoon the zloty was clearly losing again. At 16.10 the euro was 4.99 PLN, the dollar was 4.58 PLN and the franc was 4.95 PLN. So it was inevitable to hit 5 zlotys per euro again. It happened exactly at 4:45 pm.

The value of the zloty on the stock exchanges at 17:14 increased slightly. The dollar was 4.59 PLN, the euro was 4.99 PLN and the franc was 4.96 PLN.  

NBP interventions do not help

Such exchange rates mean that since mid-February the euro has already jumped by about 50 groszy, the franc by over 70 groszy, and the dollar by about 65 groszy.

All despite the subsequent currency interventions of the National Bank of Poland (three last week) or the groundbreaking decision of the Ministry of Finance, which announced that it will exchange the funds held directly on the currency market.

The Euro under 5 PLN again

However, after 1 PM yesterday the zloty started to gain its strength significantly. The balance was at 1:50 PM towards franc at 4.94 PLN, euro to 4.95 PLN, dollar at PLN 4.54. 

It looked like another monetary intervention by the NBP, although there was no official confirmation of such a move (although the NBP may announce it with a delay or even not do it at all). 

You can as always follow the exchange rate in the right sidebar on these pages.

Source: Gazeta.pl

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I am from Denmark but have lived and done business in Poland since the Spring in 2008. I have had a webshop with Scandinavian designed products, and event company in Poland. Today I am a business consultant and b2b IT consultant plus sales agent on the Polish market. I have lived/done business in 3 different cities and in 3 different regions (voivodeships) in Poland. My business network and knowledge about doing business in Poland and about Poland are therefore very big.

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