The currency pair is euro - the Polish zloty (EUR / PLN).
The European economy is steadily growing, which is reflected in the euro exchange rate. By 2018, unemployment rates in a number of countries are at a minimum level. The situation in the EU affects all countries in Europe, even those who are not part of the European Union or have not introduced the euro and have retained their national currency. The volatility of EUR / PLN, euro and Polish zloty, is paramount for determining the other currency pairs with zloty.
The economy of Poland is closely connected with the European economy. The main export destinations are Germany, Czech Republic and Great Britain. The largest volume of imports comes from Germany, China and Russia. In recent years, exports have exceeded imports, forming a positive foreign trade balance. Although Poland's transition to the euro was planned as far back as in 2012, the country's government still manages to evade the introduction of a pan-European currency. At present, even the terms and conditions for such a transition have not been determined.
For trading on forex currency pair euro - zloty is very interesting, but not simple, as it is characterized by high volatility. This opens up both prospects for higher earnings, compared with less volatile pairs, and adds the risk of losing the deposit if the rules of money management are not respected. As a rule, trade is limited to scalping.
The greatest activity of trading on the EUR / PLN currency pair is at the time of the European and American trading sessions, and in the intervals between them the trade practically freezes.
Currency pair EUR / PLN is built on the principle of direct quotation. The base currency is EUR - euro, and quoted - PLN, Polish zloty. The appreciation of the currency pair means the strengthening of the euro against the Polish zloty, that is, the purchase of EUR requires more PLN. A decrease in the exchange rate indicates a strengthening of the PLN. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
Polish zloty - (bank code: PLN) - the national currency of the Republic of Poland. The zloty is issued by the National Bank of Poland (Narodowy Bank Polski).
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