EUR PLN

EUR/PLN – Live and Historical Rates

The Euro/Polish Zloty pair isn’t considered a major or a commodity pair. While the EUR is indeed a major currency, the PLN is not. The EUR is in fact expected to replace the Zloty at one point. The above chart illustrates how many PLN one needs to purchase a EUR.

The EUR

When it comes to major currencies, the EUR is indeed a perfect fit. It is the second most traded currency in the world, after the USD, and it is the second largest reserve currency too. It is officially used by 21 countries in Europe, members of the biggest and most ambitious currency union ever. Still, despite its success story, it hasn’t been all smooth sailing for the Euro. Lately especially, it has been caught in some dire headwinds, brought about  by the 2008 financial crises. Indeed, due to its structural intricacies and the disparate nature of Eurozone economies, the EUR proved to be a major brake on recovery. While the above mentioned crisis was indeed a global one, the Eurozone was by far the slowest to effectively recover from its ill-effects.

The PLN

The Polish Zloty is one of those currencies that are rather new, yet have roots that reach back through the centuries. Although this incarnation of the currency was only introduced in 1995, there were Zlotys used in the 14th and 15th centuries too. The Polish government exercises rather strict control over the PLN, keeping a watchful eye on its inflation, to ward off instability and to safeguard economic growth.

EURPLN Analysis

The EUR and the PLN are closely correlated, which is hardly surprising considering the geographical proximity and the fact that Poland is indeed bound by treaty to join the EUR one day. Another major trading partner of the country is Russia, so any developments on that front will impact the PLN too.