POLISH ZLOTY AND BRITISH POUND (updated 2010)

Neil63Threads: 9 Posts: 58 Joined: Apr 29, 07 ♂	Edited by: Moderator Dec 27, 07, 12:32 #1
I am sure that many Polish returning to their families for Christmas would not be happy at the exchange rate between Poland & the UK. Today it is 4.90PLN = £1.00. This rate is less if you exchange at the airport. A year ago it was 5.80PLN = £1.00, in October 5.25PLN = £1.00. I would be interested to hear from anyone how high or how low the Zloty has been in recent years against the pound.

FrankThreads: 27 Posts: 1,342 Joined: Aug 14, 06 ♂	Dec 27, 07, 13:39 #2
Yes, Neil if it continues, it will seriously dampen Polish competitiveness, especially if it has also appreciated against the Euro.......UK pound has lost 10% this year against the Euro in 1 year too, so it appears similar to the loss against the zloty. It appears to be more a weakness in UK pound than strength of either Euro or zloty.

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Dec 27, 07, 13:57 #3

In long term PLN will be getting stronger and with all these foreign investments, EU funds, cash from immigrants and foreign tourists It simply must happen but yes indeed in case of GBP and especially USD It's more about these currencies getting weaker than PLN getting stronger. In case of EUR (which really matters in case Polish trade) It's only ~6% weaker to PLN than It was 2 years ago and 11-12% weaker than when EUR appeared on the market.

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Dec 28, 07, 07:09 #4

<div class="quoting">Neil63 wrote:

I am sure that many Polish returning to their families for Christmas would not be happy at the exchange rate between Poland & the UK. Today it is 4.90PLN = £1.00. This rate is less if you exchange at the airport. A year ago it was 5.80PLN = £1.00, in October 5.25PLN = £1.00. I would be interested to hear from anyone how high or how low the Zloty has been in recent years against the pound. </div>

Your wish is my opportunity to relieve the boredom of office life

[url=http://www.nbp.pl/ArchEn.aspx

Personally I'm less than amused by the recent changes. In June I accepted a commission to write a book for a British publisher. Back then the rate was 5.7zl = £1. Now they have accepted the manuscript and are ready to pay me I've lost 15% of my payment!

ukpolskaThreads: 51 Posts: 2,238 Joined: Oct 23, 06 MEMBER ♂	Dec 28, 07, 09:09 #5
When I first came here in the year 1999 the rate went up to 7zl per pound and it was so dam cool, because I brought with me £2000 for two weeks and trying as hard we could we couldn't spend it, although we, my now wife and I had a dam good go :O)

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Dec 28, 07, 15:46 #6

Harry wrote:

In June I accepted a commission to write a book for a British publisher. Back then the rate was 5.7zl = £1. Now they have accepted the manuscript and are ready to pay me I've lost 15% of my payment!

Sorry to hear that - I have bought some properties in Poland (long term investment and I intend to spend more time there - really like the country) and we have just had to pay the deposits - me and the guy I am buying with have had to stump up another 10% in sterling to get the equivalent in Zloty.

pacmanover	Edited by: Moderator May 10, 10, 10:40 #7
Thread attached on merging: exchange zloty for pounds hi everyone , i want to excange sloty into pounds ,i know i have to watch the excange rate but this is my first time,I expect to have ok 300,000pln, i have a krydet bank acc, will kredyt bank simply transfer the funds to a british acc or do i use some other system, any advice please, thanks in advance

andy bThreads: 7 Posts: 195 Joined: Nov 26, 07 ♂	May 10, 10, 10:59 #8
Your bank will be able to do it for you, but the exchange rate will not be great. In this situation, it is best to use a specialised currency exchange company - personally, I have used a company based in the UK called Worldwide Currencies, and they always offer a much better rate than banks which will save you a lot on a transfer of this amount: http://www.worldwidecurrencies.com/

pacmanover	May 10, 10, 11:08 #9
thanks andy, if i excange at for eg. 4.5 pln to £1 what should the actual rate be for me?

andy bThreads: 7 Posts: 195 Joined: Nov 26, 07 ♂	May 10, 10, 11:34 #10
thanks andy, if i excange at for eg. 4.5 pln to £1 what should the actual rate be for me? 300 000 PLN / 4.5 = 66 666 GBP The thing about these currency companies is that the rate they offer includes their commission, so if they give you a rate like 4.5 PLN / 1 GBP, then that is the rate you get - there are no extra charges

pacmanover	May 10, 10, 12:19 #11
thanks again andy

irishlodzThreads: 2 Posts: 115 Joined: Oct 19, 09 ♂	May 10, 10, 12:29 #12
phone your bank and ask them for a special rate. you should pay about 5/6 grozy commission. e.g if the official rate is 4.63 then you should get about 4.7:1 which would mean you get 63,829pounds. We were quoted a 10 grozy margin by our bank online but they cut it to 6 when we phoned and haggled.

MEMBER ♂

Edited by: Wroclaw Boy May 10, 10, 12:37 #13

If I was you id open a sterling account with your current Polish bank, take out 50,000 PLN at a time and walk to a kantor and exchange it cash for cash there, they give the absolute best exchange rates, it most probably would be around a £800 saving when all said and done on 300,000 PLN. Then pay that money into your sterling account in Poland and just transfer to a UK bank account GBP - GBP no fuss.

For example if the Zloty base rate is say 4.8 PLN - 1 GBP, a bank will give around 4.55 they may negotiate on large amounts) a UK FX company 4.62-6.8 (depending on amount) but a kantor approx 4.72 for anything over 10,000 PLN. Ive used them all for years.

I have used exchange companies in the past and one of them went into insolvency whilst they had my money, so im sure you can understand im a little scepitical of those.

Also the zloty has just strengthend against the pound over the week end, 4.8 to 4.63, now would be a great time to change. The currency exchange rates are very volatile at the moment.

pacmanover	May 10, 10, 13:40 #14
thanks wroclaw , food for thought, good man irishlodz ,the whole thing needs a wee bit of thought. are worldwidecurrncies a reputable company??

andy bThreads: 7 Posts: 195 Joined: Nov 26, 07 ♂	May 10, 10, 13:54 #15
are worldwidecurrncies a reputable company?? Like Wroclaw Boy says, there are lots of currency exchange companies out there. We have been recommending Worldwide Currencies to our clients for more than 4 years and no complaints

pacmanover	May 10, 10, 14:02 #16
fair enough, cheers

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Oct 16, 10, 13:12 #17
Zloty seems to be getting very strong.

THE HITMANThreads: 1 Posts: 416 Joined: Jun 15, 10 ♂	Oct 16, 10, 16:50 #18
milky: Zloty seems to be getting very strong. WHY ? ................ Optimistic forecasts ? They claim to have a strong domestic market, but that,s absolute rubbish when compared to the rest of europe. ( and I do get around ) Beats me. I think something is gobbledygook.

SeanBMThreads: 41 Posts: 8,727 Joined: Mar 10, 08 ♂	Edited by: SeanBM Oct 16, 10, 22:37 #19
THE HITMAN: WHY ? ................ Optimistic forecasts ? GBP 4,4470

dtaylor5632Threads: 49 Posts: 4,459 Joined: May 2, 09 ♂	Oct 16, 10, 22:41 #20
it will rise till 4.80 before the end of the year.

SmokeyoneThreads: 18 Posts: 63 Joined: Oct 25, 07 ♂	Oct 29, 10, 07:35 #21
What's the forum's views on the exchange rate at the moment. I am over to Poznan again in a few weeks - trying to decide whether to change Sterling (I usually go the the little Kantor in front of Poznan station on the left) or to withdraw some Zlotys from my Polish savings account.

terriThreads: 1 Posts: 385 Joined: May 3, 09 ♀	Oct 29, 10, 08:51 #22
Smokeyone- if we knew that we could all make a killing. The only time that it's worth exchanging sterling is when it's 4.7 PLN and it will get there soon. Less than that use Polish money.

Wroclaw BoyThreads: 57 Posts: 5,478 Joined: Jul 3, 09 MEMBER ♂	Oct 29, 10, 10:28 #23
4.57 today looks like a revival is on the way, must admit i didnt think that would happen.

SmokeyoneThreads: 18 Posts: 63 Joined: Oct 25, 07 ♂	Oct 29, 10, 13:55 #24
Will follow the advice as everybody else's guess always seems to be better than mine.....

SeanBMThreads: 41 Posts: 8,727 Joined: Mar 10, 08 ♂	Edited by: SeanBM Oct 30, 10, 14:17 #25
Wroclaw Boy: 4.57 today looks like a revival is on the way Yep. GBP 4,5950 Smokeyone: What's the forum's views on the exchange rate at the moment. You can look at the archive of NBP (on right) and see the level it has been over the months/years. After that, your guess is as good as mine.

Wroclaw BoyThreads: 57 Posts: 5,478 Joined: Jul 3, 09 MEMBER ♂	Nov 4, 10, 09:56 #26
SeanBM: Yep. GBP 4,5950 4.44 - back down again today. Wroclaw Boy: 4.57 today looks like a revival is on the way, must admit i didnt think that would happen. Should have changed up my cash last week damn it.

SeanBMThreads: 41 Posts: 8,727 Joined: Mar 10, 08 ♂	Nov 12, 10, 09:48 #27
Wroclaw Boy: 4.44 - back down again today. GBP 4,5126 And up again... It seems to be wavering between 4.4-4.6 these days.

Wroclaw BoyThreads: 57 Posts: 5,478 Joined: Jul 3, 09 MEMBER ♂	Nov 12, 10, 17:12 #28
SeanBM: GBP 4,5126 And up again... It seems to be wavering between 4.4-4.6 these days. 4.62 right now, I'm predicting up to 4.75 maybe 4.8 within two weeks.

VarsovianThreads: 91 Posts: 568 Joined: Nov 23, 06 ♂	Nov 12, 10, 17:29 #29
Interesting - I sometimes take my eye off the ball. The euro is certainly going to get hammered over the next month - all the newspapers will be taking it in terms to say the news is driving the market. The dollar is also set to rise - because it's so cheap. Everything comes in waves.

SmokeyoneThreads: 18 Posts: 63 Joined: Oct 25, 07 ♂	Nov 17, 10, 13:17 #30
Just returned from Poznan - I changed Pounds at 4.50 but if I had waited a day I would have got 4.58 - having said that the Kanta chap best guess view was the Zloty going to 4.35 to the Pound. Still cannot understand the number of expensive cars that seem to be around. I was waiting outside Zbaszynek station, just an ordinary Polish town, when a Porsche pulled up...pity it was'nt mine...

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