EUR/PLN Forex Trading
EUR/PLN Forex Trading
EUR/PLN Live Charts
Use our EUR/PLN live chart to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help guide your next trade.
What Is EUR/PLN Trading?
In forex, EUR/PLN trading refers to the buying and selling of the euro against the Polish zloty. It is a currency pair that represents the exchange rate between the euro, the official currency of the Eurozone, and the Polish zloty, the official currency of Poland.
In the forex market, currency pairs are traded based on their exchange rates. For EUR/PLN, the value represents how much one euro is worth in Polish zloty. For example, if the exchange rate is 4.50, it means one euro can be exchanged for 4.50 Polish zloty.
This pair is one of the less commonly traded ones, but it holds significance for investors and traders who are interested in the European and Polish economies.
EUR/PLN Historical Performance
The euro was introduced as an accounting currency on January 1, 1999, and became the official currency of the Eurozone countries. On January 1, 2002, physical euro notes and coins were officially launched and introduced into circulation. Poland's transition to a market economy after the fall of communism in the early 1990s led to the adoption of the Polish zloty as its official currency. Poland's previous currency, also called zloty, was replaced during this period.
Over the years, the EUR/PLN FX rate has experienced fluctuations due to various economic and political factors in both the Eurozone and Poland.
From 2000 to 2010, the pair formed solid up and downtrends, reflecting the precarious position of the European currency. From 2011 until 2020, the euro gained strength, so the pair traded in a narrow range of 4-4.5. It was broken at the end of 2020 when the rate moved to 5. However, it was a minor touch of 5, and the pair moved down.
Major Factors That Affect the EUR/PLN Pair
The zloty plays a pivotal role in the country's economic landscape. The Polish economy has experienced substantial growth over the years, attracting investors seeking opportunities in Central and Eastern Europe.
When trading this pair, market participants pay attention to economic indicators, including the GDP growth in Poland and the EU, employment data, and manufacturing output from both the Eurozone and Poland can impact the exchange rate.
Political events, elections, and policy changes in either the Eurozone or Poland can lead to market uncertainty and affect the currency rates. Global events are also vital for the strength of both currencies. Geopolitical tensions, trade wars, and shifts in investor sentiment can cause fluctuations in the rate.
Liquidity is highly important for trading, and it definitely affects less popular pairs, including EUR/PLN.
Are you interested in this pair? You can start trading it with FXOpen right away!