Pound at its highest level since the start of 2024. The pound is rising against the złoty

The zloty under pressure after the week’s start

The start of the week brings a weaker zloty against the main currencies. This is most visible on the USD/PLN pair, where the rate was around 3,9150 zł in the morning, and in overnight trading it even jumped to around 3,93 zł. That means that 1000 zł buys fewer dollars than at the end of the previous session.

In practice, this means a higher cost for people exchanging money for a trip, paying for purchases in dollars, or settling part of their contracts in this currency. With larger amounts, the difference becomes noticeable, because a move of just a few grosz quickly translates into a real loss or gain when converting currencies.

The EUR/PLN pair looks somewhat calmer. On Monday morning, the euro rate was close to 4,3850 zł, almost the same as at Friday’s close. The market, however, tried to test the 4,39 zł level, and it is now just one grosz away from the local highs seen on 24 September.

According to Tomasz Marek, a financial markets analyst at PKO BP, the domestic currency is being weighed down mainly by a strong dollar and a weaker euro. In the background remain concerns about France’s fiscal situation, tied to deficit plans, debt issuance next year and the possibility of fiscal consolidation. It is this factor that is weakening the common currency and limiting the chances of a more pronounced rebound in EUR/USD.

Against the zloty, the Swiss franc and the pound are also firm. CHF/PLN was at 4,7214 zł in the morning, and at times reached 4,7296 zł, the highest level since March 2026. GBP/PLN rose to 5,1855 zł after Friday’s close around 5,1590 zł, and later eased to 5,1790 zł. In PKO BP’s view, in the coming days EUR/PLN may remain in the 4,36-4,39 range, while USD/PLN has room to move down toward 3,86-3,88 zł.

Sources

1. Current exchange rates: Narodowy Bank Polski (average exchange rate table)