Being a native of Poland, I try to keep track of the exchange rate of the Polish Zloty to the United States dollar. Within the past ten years, Polish currency has taken a sudden change. The zloty is equal to 100 groszy. On January 1, 1995, the zloty was devalued by a factor of 10,000. Since then, then new notes have been in denominations of 200, 100, 50, 20 and 10 zloty. The new coins are 5, 2, and 1 zloty and 50, 20, 10, 5, 2 and 1 groszy. Since then, the market value has gone up drastically and 1 zloty is not worth as much anymore. Often talking to our close family back home, they always say how things are more expensive now. My family and I moved to the United States in 1993 and therefore have not been affected by this change. As we visit our family, we can definitely notice the inflation of the zloty. .
Within the past year, the zloty, in comparison with the United States dollar has been oscillating. As of May 6th, 1 US dollar is worth approximately 3.868 zloty. If you look at it the other way, 1 Polish zloty is equal to .258532 US dollars. In the year 2002, the Polish zloty rose to 4.1894 zloty to a single US dollar in the month of February. In the month of, the zloty was at its lowest with 3.91756 zloty to a single dollar US dollar. When looking at the whole year, in January, 1 US dollar was equal to 4.04766, and in December, 1 US dollar was equal to 3.91756. Therefore, the Polish zloty has appreciated versus the US dollar. When a currency appreciates, the value of that currency decreases over another currency. So, in the year 2002, the Polish zloty has increased in value over the US dollar. In January, you could buy a US dollar with 4.04766 zloty, but in December, you can buy a US dollar with only 3.91756 zloty.
This might not sound like a big change for the normal person, but it is to stockholders and investors it is. If you look at the year 2002 when you compare the Polish zloty to the US dollar, buying and selling currency could be profitable.
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