20090905 - EURPLN, CHFPLN

Last Tuesday we have noticed quite aggressive weakness of Polish Zloty; however, both currencies have returned to the level before this hike now.

The EURPLN is still above psychological barrier of 4.00:



The CHFPLN is near 2.70 now:



We are still waiting for market action; however, as per primary downtrend we shall expect fall continuation.

Note:
I got few questions how to fast and cheaply convert EUR or GBP to PLN from abroad.

The banks in Poland have spreads ca.6%.The currency exchange bureaus are usually cheaper, but any market timing is quite hard there.
This is one-way transaction, you convert to PLN and create savings account the same or next day. Generally speaking, don't even try to speculate with 3% commision - any reasonable strategy is killed with so high fees.
I personally use the eMax EUR account from mBank; spreads are a little bit smaler and there is no fee for receiving international transfer. The most important - conversion is done immediately when online access is used. The account is free of charge and you can have no fees on transfers when you register destination account before (o.5PLN with random transfer).
If you don't mind please use this link for registering with mBank - there is some partner system involved and any donation is welcomed.