On Wednesday, the zloty continued the strengthening observed in the last few days. For the dollar in the morning you had to pay temporarily “only” PLN 4.163, which was the lowest level since February 25, the second day of the war (Russia attacked Ukraine on Thursday morning, February 24). The day before the outbreak of the armed conflict, the USD / PLN exchange rate hovered around 4, so there is still room for improvement. At the beginning of this year, the dollar was also paid around PLN 4. For comparison, in the war rush, which took place around March 7, the rate reached PLN 4.62, which was the highest level in 21 years.
The zloty was strengthening in recent days also against the euro and this trend was continued on Wednesday morning. In the morning the EUR / PLN exchange rate recorded a minimum of 4.63, ie the lowest since February 25. The day before the war, the European currency was paid for around PLN 4.52 (at the beginning of the year 4.58), but during the war summit on March 7, it was for a while as much as PLN 5, most ever.
5 zlotys, which was also the highest level in history, were paid on March 7 also for the Swiss franc. This aroused fear among Polish borrowers mortgage repayments in that currency. On Wednesday morning, the CHF / PLN exchange rate temporarily decreased to 4.485, which is also the lowest rate since February 25. The day before the outbreak of the war, the cost of the Helvetic currency was 4.33 zlotys, and at the beginning of this year, 4.40 zlotys.
“Yesterday’s reports on a possible de-escalation of military actions improved market sentiment and provide room for a slight strengthening of the zloty. From the point of view of technical analysis, a move towards 4.62 cannot be ruled out. Today, numerous macroeconomic data will be published, which will probably not radically affect market trends, but they can be a source of short-term volatility, “Bank Millennium economists wrote.
