[REVISION HISTORY]

Polish zloty and EUR/PLN exchange rates: Aug–Oct 2026

Updated 24 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-20 11:43 UTC → 2026-10-23 16:47 UTC · added ~~removed~~

Throughout late 2026, the Polish zloty experienced significant volatility driven by geopolitical tensions, US monetary policy, and domestic fiscal outlooks. In August, the currency showed resilience despite US sanctions on Iran and trade disputes between the US and Canada. ~~During this period,~~ By late September, the zloty ~~fluctuated~~ faced significant losses against major currencies. Driven by deteriorating market sentiment, rising energy costs—with Brent crude oil exceeding 100 USD per barrel—and hawkish stances from the ~~US dollar, which saw an upward trend following~~ Federal Reserve ~~Chair Kevin Warsh’s signals at the Jackson Hole forum that interest rate hikes might be necessary if inflation does not decline. By early September, exchange rates remained fluid, with~~ and European Central Bank, the US dollar ~~near 3.71~~ rose toward 3.8570 PLN ~~and~~ by September 24. During this period, the euro ~~around 4.31 PLN. Following a period~~ also strengthened, reaching 4.39 PLN, one of ~~mixed performance and concerns regarding a projected 2027 budget deficit, the zloty regained substantial strength~~ its highest levels in ~~mid-October. Data from~~ nearly three years. The British pound saw notable increases, reaching 5.1054 PLN by September 28, while the ~~National Bank of Poland indicated~~ Swiss franc fluctuated around the ~~currency appreciated against~~ 4.62 PLN level. In late October, the zloty experienced further significant depreciation. By October 23, the US ~~dollar, euro, British pound,~~ dollar rose to 3.9247 PLN, and ~~Swiss franc, with~~ the British pound reached 5.2498 PLN. The Swiss franc ~~notably dropping below~~ also strengthened, exceeding the ~~4.70~~ 4.76 PLN level. ~~As of late October,~~ Analysts attribute this weakness to global risk aversion and high oil prices, with Brent crude trading above $115 per barrel. While analysts at Crédit Agricole CIB had previously projected a ~~continued~~ downward trend for the US dollar against the zloty, ~~forecasting~~ recent market conditions have seen the USD/PLN rate ~~could reach 3.82 PLN by the end of 2026 and potentially 3.68 PLN by the end of 2027. While the zloty has strengthened against the dollar and Swiss franc, it has shown slight depreciation against~~ climb toward the ~~euro and British pound in recent sessions.~~ 3.96 level.

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