Course history
The history of the euro's exchange rate reflects many key moments for the European currency that have had an impact on the financial markets. The euro was introduced into circulation in 1999 as an accounting currency and three years later as a cash currency. Since then, the exchange rate of the euro to other currencies, including the Polish zloty (PLN), has experienced different periods of fluctuation. It reached its lowest values against the zloty in July 2008, during the global financial crisis, where it reached the level of about PLN 3.20 per euro.
Over the years, the exchange rate of the euro against the Polish zloty (PLN) has been influenced by various economic, political and market factors. It has been influenced by phenomena such as changes in the economy, the actions of the European Central Bank and the Polish central bank, as well as global economic events such as the financial crisis or the COVID-19 pandemic.
Online services such as Investing.com and Exchange Rates offer historical EUR/PLN rates where you can analyse historical prices of the Euro to the Polish zloty, including the closing price, the opening price, the highest and lowest value, volume and percentage change. For example, in recent years you can see that the exchange rate of the euro to the zloty has been changing, and you can analyze these trends in the graphics that are available on many financial and economic services platforms. Information on historical exchange rates can also be found in the databases of the National Bank of Poland and the European Central Bank.
Top currency pairs
The most important currency pairs in the forex market typically include currencies such as the United States Dollar (USD), Euro (EUR), Japanese Yen (JPY), British Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), and Chinese Yuan (CNY). Below are examples of currency pairs that are the most traded and are of great importance in the global market:
- EUR/USD – Euro to US Dollar
- USD/JPY – US Dollar to Japanese Yen
- GBP/USD – British Pound vs US Dollar
- AUD/USD – Australian Dollar to US Dollar
- USD/CAD – US Dollar to Canadian Dollar
- USD/CHF – US Dollar to Swiss Franc
- EUR/JPY – euro to Japanese yen
- EUR/GBP – Euro to British Pound
In the context of the Polish zloty (PLN), the following currency pairs may be relevant:
- EUR/PLN – euro against Polish zloty
- USD/PLN – US dollar to Polish zloty
- CHF/PLN – Swiss franc to Polish zloty
- GBP/PLN – British Pound to Polish Zloty
These currency pairs are relevant to both investors and those monitoring exchange rates for business or travel purposes. More detailed information is provided on Webinar Universe.
Course Factors
The exchange rate of a currency in the global market is determined by a number of factors that include both economic and political aspects. The value of a currency can increase as a result of a country's strong economic growth, as measured by Gross Domestic Product (GDP), for example. In addition, countries with a positive trade balance, where exports outstrip imports, often see an increase in the value of their currency. Inflation also plays a key role; Low and stable inflation is usually perceived positively by financial markets, while high inflation can lead to a decrease in the value of a currency.
Interest rates are another important factor; Higher rates attract foreign investors looking for higher returns, which in turn increases demand for the currency. Political stability, on the other hand, is just as important. Countries with a stable political environment and predictable economic policies are attractive to investors, which is conducive to the appreciation of their currency. On the other hand, political uncertainty or conflicts can result in capital flight and a fall in the exchange rate.
The discount rate, a list of macroeconomic indicators and statistics are the data that are necessary when analyzing the euro exchange rate. Exchange rate fluctuations can't be explained by a single factor, which is why our Webinar Universe investment specialists often use advanced analytical tools and economic models to estimate market trends. Psychological factors such as market expectations and unconscious crowd behavior also affect prices, which can lead to speculative bubbles or sudden changes in trends.
Future predictions
Economic forecasts predict various scenarios for the future of the euro in Poland. Currency market analysts emphasize that the Polish currency can maintain a strong position against the euro thanks to the country's solid economic foundations. It is expected that by the end of 2024, the zloty may reach a level below PLN 4.20 per euro, regaining its strength from before the COVID-19 pandemic.
In the context of the evolution of the euro exchange rate, apart from internal factors, international events have a significant impact. For example, elections in different countries can strengthen or weaken currencies. This is the case in Zimbabwe, where the introduction of the new currency had a direct impact on the local currency market. Data on industrial production and policy decisions may be crucial for the direction of the euro's value. The course of the war in Ukraine or the Middle East will also certainly have an impact on the stability and exchange rates.
It is important to note that each participant of our training platform plays a key role in interpreting the dynamics of the foreign exchange market. Fluctuations in the dollar exchange rate and the complexity of the inflows on the euro can affect the assessment of the value of currencies. Experienced financial traders, when analyzing the euro exchange rate trend, use various trading strategies to effectively forecast and react to exchange rate fluctuations.
Analysis of the euro currency market indicates volatility that affects investment decisions. Historical data and economists' forecasts are key factors when assessing future movements in the euro exchange rate. In April 2024, significant fluctuations in the exchange rate are observed, highlighting the need for ongoing analysis of financial markets. In the context of investing in the foreign exchange market, it is also important to choose the right forex broker.