The EUR/PLN exchange rate on August 24, 2023

Analyzing the daily exchange rate, it changed by PLN -0.0020 (yesterday’s exchange rate was 4.4682 PLN). The change on a weekly basis was PLN -0.0028

The euro is the official currency in 20 of the 27 member states of the European Union. Countries that use the euro form what is known as the eurozone. The monetary policy of the single currency is implemented by the European Central Bank. The euro appeared as a currency only on January 1, 1999 and was initially an “invisible” currency, used for example in interbank and virtual transactions. It did not appear in physical circulation until three years after its launch. National currencies were exchanged for euros in 12 member states that were part of the European Union at that time. Since 2002, the eurozone has expanded already seven times, and now 20 out of 27 countries use the single currency (the euro). Upon joining the European Union, Poland, like any other country, committed to adopting the single currency, but there is no set date for the change of the zloty to the euro. The exchange rate of the zloty to the European currency must be announced six months before the introduction of the euro. The single monetary system in the European Union brings with it a number of amenities, such as facilitating travel. Because there is no need to exchange money for the currency in force in a particular country and convert money spent abroad “into our currency”. The introduction of the euro could also have a significant impact on reviving international contacts by improving the country’s reputation in the international arena, facilitating trade between countries or increasing foreign investment.