MUFG Bank lowers USD/PLN forecast to 3.567 PLN by 2027

MUFG Bank has significantly lowered its forecast for the USD/PLN exchange rate. Analysts now predict the dollar will cost 3.567 PLN by the first quarter of 2027, a downward revision from the previous estimate of 3.627 PLN.

The bank also expects the rate to reach 3.644 PLN by the end of 2026, down from an earlier projection of 3.707 PLN. This shift suggests a potential strengthening of the Polish złoty against the US dollar. MUFG Research attributes recent fluctuations in the złoty to market sentiment and shifts in expectations regarding the National Bank of Poland’s (NBP) monetary policy, noting a move toward a more dovish scenario.