Exchange Rates
US Dollar / Polish Zloty - USD/PLN

The national currency of Poland which has been a member of the European Union since 2004 and “is slow” to adopt the euro (as Poland is not a member of the convergence mechanism MCE II – Exchange Rate Mechanism II- and certain internal political disagreement that lead to a reluctance to adopt the single currency), the Polish zloty (PLN) has been freely floating against the other world currencies since 2000 and has a good liquidity on the Forex with trading volumes reaching until $2 billion per day.
With the exchange value USD/PLN = 3,3 by the end of 2004, the USD/PLN cross kept the same level until June 2005 (USD/PLN = 3,4); then a decrease movement and the concomitant appreciation of the zloty against the dollar, it remembered the parallel appreciation of the euro.
The USD/PLN cross decreased under the value USD/PLN= 3.0 in November 2006, then kept decreasing until July 2008 and the lower level is USD/PLN = 2,1 (-43% in less than two years, that is to say +43% for the zloty against the dollar).
In the same time, the euro also appreciated against the dollar, and that increased the bearish trend of the USD/PLN cross.
A very strong appreciation of the USD happened then against the zloty in the context of the worsening of the financial and stock exchange crisis of the Fall of 2008, and a bullish rally of the cross gave the exchange value USD/¨PLN=3.75 by then end of February 2009 (+83%, so a -83% depreciation of the zloty in 6 months!).
A clear adjustment happened again in parallel with the fluctuations of the EUR/USD cross (or more precisely of the USD/EUR cross and the USD/PLN cross had an exchange value equal to 2.7846 by mid-November 2009.
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