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Zloty goes down, good news for ex-pats in Poland

MacduffThreads: 13 Posts: 86 Joined: Oct 30, 07	Feb 4, 09, 04:41 / #
Good news for Ex-pats living in Poland. I being a Brit see the Zloty is 5.2 to the pound the question is do you think it will keep getting higher or is this a good time to cash in the British pound or stll wait for a while yet?

Cardno85Threads: 33 Posts: 858 Joined: Jul 11, 08 MEMBER	Feb 4, 09, 04:49 / #
That's a great rate. Is that the rate in Kantors or is that the rate on the net? Keep in mind there will always be differences there. I would personally cash in now, I can't see the UK economy (and, as such, the pound) going much higher.

MacduffThreads: 13 Posts: 86 Joined: Oct 30, 07	Feb 4, 09, 04:52 / #
This is the rate on the net I will have a look at the Kantors later to day. Also make an appointment with the Bank.

PolanglikThreads: 40 Posts: 883 Joined: May 16, 07	Feb 4, 09, 11:08 / #
excellent rate if you're converting £'s to zł. just checked on xe.com and the exchange rate was 5.255zł : £1 will the rate get higher ? I wish I had a crystal ball :o)))

Wroclaw Boy	Feb 4, 09, 11:11 / #
Polanglik: just checked on xe.com and the exchange rate was 5.255zł : £1 will the rate get higher ? I wish I had a crystal ball :o))) and 1 eur = 4.65 pln, i would change up now.

sausageThreads: 25 Posts: 1,053 Joined: Sep 21, 07	Feb 4, 09, 11:12 / #
Polanglik: will the rate get higher ? I hope so (and for Polish property prices to plummet). Polanglik: just checked on This website is pretty good. You can sign up for a daily email of exchange rates.

MacduffThreads: 13 Posts: 86 Joined: Oct 30, 07	Feb 4, 09, 12:41 / #
I do expect the property prices to take a dip but not a plummet (I hope i,m wrong) but if it drops by 20% and the pound rises by 20% then I will be buying either a flat, house or even just some land with in the next 5 months.

Grzegorz_Threads: 81 Posts: 6,213 Joined: Nov 16, 06	Feb 4, 09, 13:08 / #
Generally PLN should soon go down at least a bit more but British economy is in deep shit too, so It's hard to say how the PLN/GBP rate will look like. Simple way to diversify the risk is: convert half of the cash to PLN now, wait with the rest and watch the trends carefully.

mephiasThreads: 15 Posts: 812 Joined: Nov 14, 08 MEMBER	Feb 4, 09, 13:11 / #
It's very bad for me. I got a job offer from Poland 3 months ago and offered salary was Zloty which goes down around % 20 against euro and I am still waiting for residence permit. It's a multinational company. Should I ask for a increase in the salary before start ? Does it have a effect on Living cost in Poland ? What is the expectation for zloty in coming months ?

BLSThreads: 79 Posts: 171 Joined: Feb 14, 08	Feb 4, 09, 15:29 / #
mephias: Should I ask for a increase in the salary before start ? Would you offer to decrease your salary if this trend was reversed? Say, if the zloty was UP 20% against the Euro? I kinda doubt it...

mephiasThreads: 15 Posts: 812 Joined: Nov 14, 08 MEMBER	Feb 4, 09, 15:52 / #
BLS: Would you offer to decrease your salary if this trend was reversed? Say, if the zloty was UP 20% against the Euro? I kinda doubt it... You are right but in negotiation phase I tried for a salary on Euro base but they did not accept. And it won't really problem for me if it doesn't effect cost of living in Poland at same level ( around % 20 ) The problem is it may not be a kind behaviour to ask for a change after they apply for work permit and everything was set. So most probably I won't do this.

subsThreads: - Posts: 1 Joined: Jan 17, 09	Feb 4, 09, 23:15 / #
good news for polish economy,exports become more competitive good news for people who earn in other currencies and spend in poland but disaster for people who earn in zloty nd spend mostly in euros/dollars :(

SeanusThreads: 22 Posts: 30,158 Joined: Dec 25, 07	Feb 5, 09, 00:02 / #
Bad news for Brits who send money home which, thankfully, I don't. BLS, you are competing with Greg I see, LOL

mephiasThreads: 15 Posts: 812 Joined: Nov 14, 08 MEMBER	Feb 5, 09, 09:08 / #
What happened in Poland yesterday ? It's more like a devaluation and the decrease in offered salary again decrease around % 10. Is it all because global crysis ? In this case I think I should ask for an adjustment before start because after this currency changes (Before that it was % 30 more ) offered salary is nearly lesser than my current salary.

Wroclaw Boy	Feb 5, 09, 09:36 / #
mephias: (Before that it was % 30 more ) offered salary is nearly lesser than my current salary. I wouldnt worry to much about it, FX exchange rates are just a big game. The PLN will be back up at some point and then you'll be complaining the other way if you change now. I get paid in many currencies and at the moment i try to insist on the Euro if possible. Its a strong currency at the moment and will be for a few years imo.

HAL9009Threads: 2 Posts: 329 Joined: Mar 13, 07	Feb 14, 09, 01:31 / #
Euro is the way to go. Złoty will stay low for now - this will bring inflation to Poland in a few years' time, so not so good news. Same goes for Sterling and USD. Any country that effectively allows its exchange rate to go artificially low will experience inflation as a result. Times aren't too good.

Neil63Threads: 9 Posts: 58 Joined: Apr 29, 07	Feb 17, 09, 02:34 / #
The pound is undervalued, sure we have problems maybe big ones but then so does every country..... Polands interest rates are heading south and that will reflect in the coming months in the zloty dropping against the pound, I can see it hgoing back to 5.80

Wroclaw Boy	Feb 17, 09, 12:18 / #
Neil63: I can see it hgoing back to 5.80 4.88 PLN - the EUR, unbelievable. i got 3.8 6 weeks ago.

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