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The polish Zloty getting stronger versus British pound?



WersalThreads: 6
Posts: 26
Joined: Mar 2, 08 		Edited by: Wersal   Mar 15, 08, 19:07 /  #
Yesterday i noticed that the British pound was now only worth 4.6 zoltych, this is 1 zlotych less than 2 years ago, and today i heard that this is actually causing some poles to return home (how many i dont know?) as they can also now get better jobs than before with better pay. So here's 3 questions for you:-).

1. do you think the zlotych will continue to get stronger? 2. would this be enough to make you think of returning home? and 3rd just how better is life in poland than say a couple of years ago?

opinions? :-)
WroclawThreads: 77
Posts: 7,401
Joined: Apr 1, 06 [Moderator]  Pictures: 3 		  Mar 15, 08, 19:16 /  #
Wersal wrote:
1. do you think the zlotych will continue to get stronger?


No idea.

Wersal wrote:
would this be enough to make you think of returning home?


We have no need for experienced toilet cleaners.

Wersal wrote:
just how better is life in poland than say a couple of years ago?


A lot better for those who stayed.
KrzysztofThreads: 2
Posts: 1,146
Joined: Jul 26, 07 		  Mar 15, 08, 20:43 /  #
Wersal wrote:
1. do you think the zlotych will continue to get stronger?

Probably, unless something really unexpected happens.
For example US dollar was equal 3,50 or even 4,00 złoty (once upon a time, in the 90's); then for a longer time around 3,00 zł, now it's about 2,50. It's a firm tendency, despite all the ups and downs in Polish and international economy. And I remember the times when British pound was equal almost 7,00 złoty.
jkn005Threads: 3
Posts: 166
Joined: Jan 29, 08 		Edited by: jkn005   Mar 15, 08, 21:00 /  #
3,50pln/$1 was 2 1/2 years ago. It is now 2.25pln/$1. Dollar has lost a third of it's value.

http://finance.yahoo.com/currency/convert?from=USD&to=PLN&amt=1&t=5y


Looks pretty much the same against the Pound and Euro as well.
jones101Threads: 1
Posts: 554
Joined: Jan 14, 08 		  Mar 15, 08, 21:06 /  #
Something is not right with all of this...it would be one thing if the dollar was simply falling against all other currency (which would still suck)...yet all currencies are falling against the ZL and there is no clear reason.

Poland is not doing so much better overall than all these other countries to explain this...it has to be an artificial valuation and that simply cannot last forever. This is no insult to Poles so chill out ubernationalists....
z_dariusThreads: 22
Posts: 5,091
Joined: Oct 18, 07 		  Mar 15, 08, 22:24 /  #
jones101 wrote:
Poland is not doing so much better overall than all these other countries to explain this...

Could it be Poland's reasonably strong economic growth?

jones101 wrote:
it has to be an artificial valuation and that simply cannot last forever

Nothing lasts forever, and the only sure thing is change.
AvalonThreads: 3
Posts: 805
Joined: Sep 11, 07 		  Mar 16, 08, 02:54 /  #
In the past few weeks, the GBP has fallen in value against the Euro from 1.34 to
1.30 = £1. I have been wondering if the British Government has every intentention of allowing the fall to continue until there is a parity, thus doing away with a need to have a referendum to adopt the Euro by claiming that as they are the same value, there is no need.
Like jones101, I cannot see any reason for Sterling to be falling against the Euro as the British economy is supposed to be in a sound position. Could it possibly be that the British public are being lied to yet again?
cygThreads: 8
Posts: 153
Joined: Oct 31, 07 		Edited by: cyg   Mar 20, 08, 14:15 /  #
Avalon wrote:
Like jones101, I cannot see any reason for Sterling to be falling against the Euro as the British economy is supposed to be in a sound position. Could it possibly be that the British public are being lied to yet again?

Currency values are largely determined on the free market, and it would take either a) a tremendous amount of cash, b) a monstrous conspiracy or c) both of these to move the prices as much as they have over the past few years. Fact is the pound may be suffering from the UK's engagement in the USA's war against the infidels, ehm... I mean terrorists. Its economy is also more reliant on the American, and there's no end of the sub-prime crisis in sight.
On the other hand the zloty benefits from a) Poland's overall sound economy, b) its accession to the EU, which to investors has made it seem much safer than previously, c) relatively high interest rates compared to most other stable economies (meaning more profits for bond investors) and d) continuing foreign direct investment in the country, which has to be converted to zlotys, driving up demand for the currency.
I'd say that all points to continued growth. Of course anything can happen in the real world.
Lukasz KThreads: -
Posts: 108
Joined: Feb 5, 08 		  Mar 20, 08, 16:16 /  #
The value of each currency is determined by lots of different factors. One of course is he grownth rate of country's economy but the other, even more imortant are interest rates of national banks.
Polish economy is growing for latst few years about 5-6% per year (ant this rate is not falling a lot even nowdays) while Euro and US eonomies were growing 1,5-2% per year.
What is more during last year interest rates of FED are falling becouse FED is tryng to "feed" US economy with cheap credit. So keeping US Dollars on accounts is not bringing a lot of income becouse rates are so low (now about 2%).
Polish economy is in totally different stage. It is growing too fast (which causes inflation) so National Bank wants to cool it down and make credit more expensive so it brings up interest rates as high as 5,5%. That makes locating money in Polish banks more profitable than in US so banks are selling dolars and buying zlotys which changest the value of currency.

Lukasz K
tehbThreads: -
Posts: 13
Joined: Mar 21, 08 		  Mar 21, 08, 14:54 /  #
Lukasz K

exactly, immposible to explain it more clearly :)
hairballThreads: 37
Posts: 787
Joined: Dec 16, 07 		  Mar 22, 08, 09:23 /  #
Wersal wrote:
1. do you think the zlotych will continue to get stronger?


I think it's more the £ getting weaker!
przemek79Threads: 1
Posts: 18
Joined: Jan 24, 08 		  Mar 22, 08, 09:39 /  #
Wroclaw wrote:
Wersal wrote:
would this be enough to make you think of returning home?


We have no need for experienced toilet cleaners.


Hahaha have I heard it somewhere ??:D:D:D:D

The fact is that we are happy when "emigrants" are in the UK, because a salary is higher (low unemployment). When I finished studies I couldn't find a work. Now I have no problem with a work, a problem have companies with finding good people. Now the only unemployees are people who can't do anything, drunkers etc... (with some exceptions).

Are we scared their come back ?... No ... See the post of "Wroclaw" about toilet cleaners... It's true, in th UK people can earn more money even doing the simpliest job like dish cleaning or toilet, but what there will be in the future ? Experienced dish or toilet cleaner ?...


Regards
Przemek
WersalThreads: 6
Posts: 26
Joined: Mar 2, 08 		  Mar 22, 08, 09:40 /  #
Avalon wrote "I have been wondering if the British Government has every intentention of allowing the fall to continue until there is a parity, thus doing away with a need to have a referendum to adopt the Euro by claiming that as they are the same value"

i have thought the same but iam curious as to when Poland may join the euro, i would of thought it would happen within the next 5-10 years. If Poland does join the euro then i would also believe this would make most poles to reconsider coming to England to work as the currency would be the same.
szkotja2007Threads: 38
Posts: 2,544
Joined: Dec 29, 06 		  Mar 22, 08, 09:41 /  #
Zlotych will get stronger to reflect the growing economy but will plateau soon.
The Pound will weaken but not as much as other currencies.
Recession will eventually let currencies find their baseline.
The $ is going to get hammered badly.

Buy Gold.

gold

All IMHO of course.
tehbThreads: -
Posts: 13
Joined: Mar 21, 08 		  Mar 22, 08, 14:00 /  #
Wersal wrote:
i have thought the same but iam curious as to when Poland may join the euro, i would of thought it would happen within the next 5-10 years.


Well our prime minister said that they want to replace zloty with euro in ~2012
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