Records on the currency market
Financial markets are not indifferent to the current situation in Europe. It is only the 11th day of the Russian aggression against Ukraine, while the international economy is already feeling its effects.
Consumers, travellers and entrepreneurs are seeing exchange rates rising at a rapid pace from day to day.
Today, the Euro, US Dollar and Franc are particularly notable for their increasing strength.
Below are the latest exchange rates:
- Wanting to exchange 1 EUR today, we would spend as much as PLN 5.00 on it for a moment. This is a historic result for one of the major EUR/PLN rates. Hour by hour, the euro is hitting new all-time highs.
- The exchange rate is also not favourable for those planning to travel outside Europe. In the morning hours of 7 March, the most expensive valuation of the US dollar in 21 years was recorded. At that time the exchange rate exceeded PLN 4.59.
- The effects of rising loan instalments are being felt more and more painfully by borrowers taking out loans in francs. On the same day, the CHF/PLN exchange rate reached a record high of PLN 4.95, coming close to the EUR/PLN rate.
- The Russian ruble has been affected by the opposite situation. As a result of the incursion of Russian troops into the territory of Ukraine, numerous sanctions were imposed on Russia and its citizens, and subsequently many international economic collaborations were broken. All these actions have significantly weakened the ruble, which on 7 March costs 0,032 PLN. Already today the ruble has become practically non-convertible.