Dear Readers,
Today, we’re taking a closer look at the future of our native currency – the Polish zloty (PLN) – in relation to two major currencies: the US dollar (USD) and the euro (EUR). Are you wondering whether your savings will increase in value soon or perhaps decrease? Let’s delve into our forecasts for the first quarter of 2024.
Zloty vs Dollar – What Awaits Us?
Let’s start with the US dollar, which always garners a lot of attention. According to analyses presented by eurpln.com, 2024 will bring significant fluctuations. Experts forecast that the dollar rate may reach a maximum of 4.64 PLN in February, then descend to a level of 3.35 PLN in December – quite the rollercoaster! The change by the end of the year is expected to be a substantial -14.85%1.
The Agency for Economic Forecasting at usdforecast.com paints a slightly more stable picture, suggesting that in October 2024, the dollar rate will hover around 3.70-3.76 PLN, indicating a gentle decline of -1.1% over the month2.
Meanwhile, comparic.pl emphasizes that in 2024 the dollar may enter a period of weakness, mainly due to the expected decline in long-term interest rates in the USA, which usually leads to a weakening of the currency3.
Zloty versus Euro – Will the Euro Surprise Us?
Now, let’s turn to the euro. Forecasts on eurpln.com suggest that the euro rate in 2024 will range from 4.10 PLN to 4.66 PLN for 1 EUR, with the highest value in March and a drop to 4.10 PLN in December, which would mean a decrease of -1.64% throughout the year4.
Analysts from forsal.pl expect that the zloty in relation to the euro will strengthen, reaching a level of 4.35 PLN in 2024, which is a slight upward revision from earlier expectations5.
What Does This Mean for Our Wallets?
The above data may seem a bit abstract, but they have a real impact on our finances. Changes in currency exchange rates are especially felt by those planning trips abroad, repaying foreign currency loans, or investing in foreign markets.
Remember, however, that forecasts are not prophecies – they are based on current data and trends, but there is always room for surprises. It’s worth regularly following the economic situation to be able to react quickly to changing conditions.
Let’s hope that our zloty will show its best side and allow us to look optimistically at the upcoming year 2024. Keep your finger on the pulse and observe with us the changes in the currency market. Investing and saving always involve risk, but the right knowledge and ability to read economic signs can significantly minimize this risk.
In Summary
The beginning of 2024 promises to be interesting for the exchange rate of the zloty. If our forecasts come true, we may witness both the strengthening and weakening of our currency against the dollar and euro. The real consequences of these changes will depend on many factors, including the decisions of monetary policy in Poland and around the world.
We encourage you to actively observe the markets, and don’t forget that each forecast is just one of the possible paths the future can take. Regardless of predictions, it is important to make considered financial decisions that are tailored to the individual needs and capabilities of each of us.
Thank you for your attention, and we invite you to use our service!