USD PLN trading
As one of the fastest-growing European economies in modern times, Poland has much to offer potential investors. While its official currency can be traced back to the Middle Ages, it too can deliver enticing returns when traded on the global forex market. With the USD to PLN pair, the Zloty (PLN) is measured in terms of one US Dollar (USD) – the world’s foremost currency.
The Bank for International Settlements has shown that PLN continues to attract attention from investors. While it only accounts for 1% of average daily trades, its turnover increased in 2019 to $41bn. USD does continue to dominate the market with 88% of trades. But the USD to PLN pair does create compelling opportunities with the Zloty supported by a strong economy.
One thing that investors must not overlook with the USD to PLN pair, however, is its uncertain future. Poland is a European Union (EU) member state. Like others, it is expected to adopt the Euro as its official currency. It isn’t likely to happen until 2022 at the earliest, according to the president of Narodowy Bank Polski (Poland’s central bank) but is still very much anticipated.
USD to PLN News
Traders can expect Poland’s relationship with other EU member states to be a major influence on USD to PLN news. Any decisions or events that point towards Poland’s adoption of the Euro can be expected to have a heavy impact on the value of the Zloty. It will have implications for the USD to PLN rate – and, indeed, its future availability as a forex trading instrument.
In the short-term, Poland’s expected economic growth could be a significant driver of the USD to PLN rate. Much depends on its trading links with the rest of Europe. Exports are worth more than half of the country’s national GDP. It benefits from trade links with Germany in particular – and the USD to PLN pair can be impacted if demand from key partners falls.
Poland’s economy has shown great resilience, however. It was the only European country that did not experience a recession during the global financial crisis. One reason for this and Poland’s stable currency is due to its government. By keeping watch over inflation, the government has been able to take steps to underpin the Zloty’s value – and the stability of the USD to PLN pair.
US factors also affect the USD to PLN rate. The Dollar is regulated by the Federal Reserve. Any announcements from the Fed are likely to affect this pair and traders should be aware of these. Bilateral relations between the two are also crucial. US imports from Poland reached an all-time high in 2019. While Poland offers tariff-free access to the EU, it is also bound by its wider rules.
USD to PLN Chart
Need reliable, up-to-the-minute information on the value of the US Dollar in terms of the Polish Zloty? With OANDA’s USD to PLN chart, obtain the latest mid-market rates as calculated by our unique pricing engine. The chart can supply the information needed to inform trading strategies that involve the USD to PLN pair but offers absolutely no guarantee of future performance.