GBP is a symbol of the British pound. The US dollar has a significant impact on the pound. Accordingly, in anticipation of the subsequent valuation process by the GBP/PLN pair, it is necessary to take into account the main economic characteristics of the country. These include refinancing, gross domestic product growth, unemployment, the number of new employees, and others. It should be noted that the pound reacts at different speeds to changes in the US economy.
Therefore, the GBP/PLN pair is an essential criterion for obtaining information about the monetary units for each of the currencies in the couple. Zloty – decimal currency means that each zloty consists of 100 smaller units. Each of these smaller units is called a penny. Although the valuation of the zloty varies depending on world currency markets, one Polish zloty costs about a quarter of the USA (or 25 cents).
Each banknote shows the historical person of one of the Polish royal families; on the back are symbols of the time when this man lived. For example, on the obverse is 100 zloty is a portrait of King Ladislas II, and on the back is a symbol of his victory in the Battle of Grunwald in 1410.
Since its inception, the Polish zloty has taken many different forms. The term “zloty” comes from the Polish word “zloty” and means “gold.” This value is very significant because the zloty functioned as a coinage for most of its history. Since the Middle Ages, the zloty has been a coin of silver or gold and has been a tool for exchange in the Polish region.
Throughout its history, Poland has changed its currency differently to cope with inflation problems and ensure price stability.
Poland has experienced many periods of increased volatility associated with the valuation in zloty due to continued inflation. To cope with current inflationary problems, the Polish government hired a central bank to manage the zloty.
Narodowy Bank Polski (NBP) is the central bank of Poland. He implements a monetary policy aimed primarily at maintaining price stability. Since 1998, the organization has been directly focused on inflation with an acceptable inflation target of 2.5% with an adequate dispersion of 1% since 2004. In addition to managing inflation in zloty, the NBP enjoys the exclusive right to issue money and acts as the regulator of local banks.
In terms of gross domestic product (GDP), the Polish economy ranks eighth in the European Union. However, per capita GDP remains below the EU average: 17% of the country’s population lives below the poverty line. Poland’s GDP consists mainly of services and industry, which account for 96% of total GDP. Almost 55% of the workforce is employed in the services sector of the economy, followed by the industrial sector with 30%. 12.6% of the workforce is engaged in the agricultural industry, which accounts for only about 3% of Polish GDP. The principal industries in Poland are coal mining, iron and steel production, shipbuilding, and chemical fertilizer production. Poland’s largest trading partner is Germany, followed by Russia and individual EU countries.
The Warsaw Stock Exchange is the largest financial market in Poland and the leading stock exchange in emerging European markets (EME). The Warsaw Stock Exchange, specializing in stocks and derivatives, is one of the fastest-growing stock exchanges in the regions of Central and Eastern Europe.
The governing body of the financial markets in Poland is the Polish Financial Supervisory Authority (KNF). In addition to monitoring commercial operations on the Warsaw Stock Exchange, KNF controls banking practices, insurance markets, savings and credit unions. The Polish financial supervisory authority acts as directed by the Polish government.
Due to the low liquidity for the analyzed pair, from time to time, significant volatility graphs appear unpredictably. Professional scalpers use them, but inexperienced traders can also work successfully using this pair to trade.
Finding the right analysis for GBP PLN is not very easy even at individual trading forums. Also, the implicit data is little devoted to exotic pairs, since most investors trading in Polish zlotys prefers to invest a substantial deposit in USD/PLN or EUR/PLN.