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According to data from the European Central Bank, this graph displays the monthly exchange rate (as of the end of each month) of the euro to the Polish zloty (EUR/PLN). The concrete measure, or time, shows the exchange rate as of the last day of each month, which differs from the standardized measure, a calculation of the average based on observations throughout the period in question.
As of September 2025, the exchange rate of the euro to the zloty amounted to *, a slight increase from the previous month.   

EUR/PLN exchange rate analysis

 

The initial phase of the economic activity breakdown in Poland and key global centers caused by the coronavirus epidemic is slowly passing. There is a growing belief in markets that many stimulus packages will improve the economic situation and allow for a relatively rapid return to growth. The recovery is conducive to recouping losses by emerging market currencies, including the Polish zloty. However, further strengthening of the Polish currency should be carried out gradually. The beginning of 2020 for the Polish zloty can be described as turbulent. The limited depreciation of the zloty against the euro in January and February turned into a violent sell-off in March. From the beginning of the year to the minimum point reached by the zloty in relation to the euro in the second half of March, the Polish currency lost approximately percent.   

Fundamental analysis

 

Recently, the Polish zloty has recovered from some losses. The Polish government reacted quickly to the crisis caused by the coronavirus pandemic. On ** March, an “epidemic emergency” was declared, which on 20 March evolved into an "epidemic state.” Poland launched preventive measures relatively early, and the restrictions implemented were more rigorous compared to those in many other European countries. Thus, economic activity in the country experienced a collapse. The GDP growth rate decreased from *** percent y/y in the fourth quarter of 2019 to *** percent in the first quarter of 2020. The data for the second quarter will undoubtedly show a much larger downturn, mostly due to the lockdown. April's data indicate a noticeable deterioration in the labor market situation. The data for the following months is likely to show a further increase in the unemployment rate. The Polish authorities have taken coordinated steps to support the economy during the crisis, providing assistance to businesses and households. Under the two key adopted packages, the total value of measures is estimated at *** billion zloty, equivalent to roughly ** percent of the country's GDP. Concerning the size of the economy, it is one of the largest aid packages among the European Union countries. Poland is in the process of opening its economy. This gives hope that economic activity in Poland will regain momentum. Apart from the significant fiscal and monetary stimulus undertaken by the Polish authorities, Poland can also likely count on considerable support from the EU. The new proposal from the European Commission includes financial assistance for EU countries. Poland is likely to be one of the largest beneficiaries of this proposal if it is accepted in its current or a similar form.