Biznes Fakty
Currency rates. The złoty is weakening (June 2, 2025). PLN, EUR, USD, CHF, GBP quotes
On Monday, the złoty experiences a decline against major currencies: the euro, dollar, franc, and pound. Economist Piotr Kuczyński noted that „the outcome of our presidential elections was overshadowed by global sentiment.”
Current currency rates (as of 8:30 a.m.): – EUR/PLN – 4.27 (+0.5 percent); – USD/PLN – 3.75 (+0.3 percent); – CHF/PLN – 4.57 (+0.5 percent); – GBP/PLN – 5.07 (+0.5 percent).
On Friday at around 4:20 p.m., the euro was valued at nearly PLN 4.25, the US dollar at PLN 3.75, the franc at PLN 4.55, and the British pound at PLN 5.04.
„The election result overshadowed by global sentiment”
„Pre-election surveys suggested equal probabilities for both candidates, but positioned R. Trzaskowski as the frontrunner. Thus, the result is unexpected, leading to a depreciation of the złoty in the market since the morning,” analysts from Poland’s leading bank PKO BP commented.
They further stated that „K. Nawrocki’s victory implies a return to cohabitation, with the potential for a presidential veto on government proposals and an inadequate number of votes in the ruling coalition to override these vetoes.”
„It is important to remember that the President has the authority to dissolve parliament, which can occur in two scenarios: (1) if the draft budget does not reach the President within four months of its introduction in the Sejm; (2) after three unsuccessful attempts to form a government. In terms of economic policy, the President’s significant powers revolve around influencing monetary policy – the NBP President is appointed upon the President’s request (A. Glapiński’s term concludes in June 2028), and the President also selects three out of nine members of the Monetary Policy Council (the next appointment will occur this year, as C. Kochalski’s term ends in December, while the terms of the other two members expire in February 2028)” – PKO BP analysts elucidated.
Economist and analyst Piotr Kuczyński remarked in a post on the X platform (formerly Twitter) that „the outcome of our presidential elections was overshadowed by the global mood.”
„The mutual blame between China and the US, alongside D. Trump’s tariff increase on steel and aluminum to 50 percent, is exacerbating global sentiment, thus the złoty’s depreciation can only be partially attributed to the elections,” he stated.
Zloty. Long-term outlook
Maciej Samcik, an economic journalist, expressed on his website subiektywnieofinansach.pl regarding the long-term implications for the Polish currency.
„I would not dismiss the possibility of a weakening of the złoty or a surge in the volatility of the Polish currency’s rates. A diminished demand for Polish assets may lead to lower valuations of our currency against the euro and the dollar. Naturally, the złoty will still be influenced by global trends – if the dollar declines on international markets, even a weaker złoty may appreciate (though this will likely happen at a slower pace),” Samcik indicated.
He also emphasized that „the further Poland drifts from the core of the European Union (assuming we are witnessing the emergence of a new political trend that functions this way), the more vulnerable the złoty will be to fluctuations – any rise in global risk aversion could have a more pronounced impact on the Polish currency than if the government in Poland were more stable. This is especially true if the president hampers the government’s actions.”
