On Monday, April 25, 2022, the euro exchange rate loses 0.27% against the zloty and fluctuates around PLN 4.6410. Thus, the EUR / PLN exchange rate is weakening during today’s session and is close to the level of PLN 4.64.
The euro is losing at the beginning of this week
– We have an exciting week in the financial markets ahead of us, as we will get to know the latest inflation data from Poland, the euro zone and the United States. In line with the current trends, they are the main source of changes in market expectations as to the outlook for monetary policy – Bank Millennium analysts wrote today. – Especially interesting – in view of the fact that the Monetary Policy Council will make decisions on the scale of interest rate increases based on the latest macro data – the Friday inflation flash reading in Poland promises. If it differs from the consensus, it may significantly affect the valuation of domestic assets, analysts added. The currency pair is currently close to the level of 4.6410. As we can see in the daily EUR / PLN chart below, the euro has been systematically strengthening against the zloty since the conflict between Russia and Ukraine. From the second half of March, the trend is reversed and the Polish currency is strengthening.
Euro exchange rate on April 25, 2022. The EURPLN rate on the daily chart on April 11th, the EUR / PLN rate was PLN 4.64, while according to the most recent table, the value of the euro is at the same level after 10 consecutive sessions. Today morning the EUR / PLN exchange rate is close to the level of 4.6410. During the last 10 sessions, the EUR / PLN exchange rate was at the highest on April 12 and amounted to PLN 4.6626. From April 6, the currency pair has been consolidating in the range between PLN 4.62 and PLN 4.66.
Check what the euro exchange rate has historically been in line with the official NBP tables
The date of publication of the NBP exchange rate table
Euro exchange rate (EUR / PLN)
April 25, 2022 PLN 4.6405 April 22, 2022 PLN 4.6361 April 21, 2022 PLN 4.6523 April 20, 2022 PLN 4.6295 April 19, 2022 PLN 4.6361 April 15, 2022 PLN 4.6378 April 14, 2022 PLN 4.6447 April 13, 2022 PLN 4.6460 April 12, 2022 PLN 4.6626 April 11, 2022 PLN 4.6451 Source: Own study based on historical Table A of exchange rates NBP From October 6, 2021, the Monetary Policy Council (MPC) systematically raises interest rates in Poland. The first hike was unexpected for the market and amounted to 40 bp. (up to 0.5%). The second one was much higher – 75 bp. – up to 1.25%. The next three hikes were 50 bp each. and took place as follows: December 8, 2021, January 4, 2022 and February 8, 2022.
The penultimate rate hike was on March 8 – the MPC decided to raise the reference interest rate by 75 bp. from 2.75% up to 3.50 percent In turn, the last hike on April 6 was as high as 100 bp. (the reference rate has been at 4.5% since then) and was a surprise for the market – forecasts pointed to a 50-75 bp hike. The rationale for the increase in interest rates is the rise in inflation and the risk of it exceeding the NBP target also in the medium term.
Euro exchange rate, average values for the last 31 days according to the National Bank of Poland. Follow us on Google News. Search what is important and stay up to date with the market! Watch us >>