EUR/PLN explained: the euro against the Polish zloty

• EUR
• PLN

What EUR/PLN is

EUR/PLN is the exchange rate of the euro (EUR) against the Polish zloty (PLN). The quote shows how many zloty one euro buys. The euro is the base currency, the one being priced. The zloty is the quote currency, the one the price is shown in.

Poland is a member of the European Union but does not use the euro. Most of its trade is with the euro area, so EUR/PLN is the zloty's main reference rate. Many brokers class it as an exotic pair, meaning one major currency paired with a currency from a smaller or emerging market. Exotic pairs usually trade in lower volume than majors such as EUR/USD. See Majors, minors, exotics for how pairs are grouped.

How to read the EURPLN quote

A forex quote has two prices:

• Bid is the price at which you can sell the base currency (EUR).
• Ask is the price at which you can buy it.
• Spread is the gap between the two. It is a cost you pay when you open a trade.

If EUR/PLN rises, the euro has strengthened against the zloty, or the zloty has weakened. If it falls, the opposite has happened.

A pip is the standard unit of price movement for a pair. For EUR/PLN it is a small fraction of one zloty. The exact number of digits your platform shows is in the contract specification.

Pip value and margin per lot

A lot is the trade size unit. The value of one pip for a position equals the pip size multiplied by the position size in euros. The result is in zloty, because PLN is the quote currency. To see it in your account currency, the platform converts it at the current rate.

Use the calculator to get the pip value for your lot size in PLN and in your account currency:

Margin is the amount your broker holds as collateral while a position is open. It depends on the position size, the EUR/PLN price and your leverage. Leverage lets you control a position larger than your deposit. Higher leverage means less margin, but losses grow just as fast as gains. Calculate the margin for your size and leverage here:

What tends to move EUR/PLN

Euro side

• ECB policy. Decisions and guidance from the European Central Bank on interest rates change the relative return on holding euros.
• Euro-area inflation. Inflation data shapes what markets expect the ECB to do next.
• PMIs. Purchasing Managers' Index surveys are early readings of business activity in manufacturing and services.
• German data. Germany is the largest euro-area economy and a major buyer of Polish goods. Its industrial output, business surveys and growth figures matter for both currencies.
• Energy prices. Europe imports much of its energy. Gas and oil price swings affect inflation and growth across the region, Poland included.

Zloty side

• NBP policy. The National Bank of Poland sets Polish interest rates. The gap between NBP and ECB rates affects flows into and out of the zloty.
• Euro-area growth. Strong demand in the euro area tends to support Polish exports. Weak demand tends to weigh on them.
• EU funds. Poland receives large EU payments. News about their release or delay can move the zloty.
• Politics. Domestic politics, relations with EU institutions and regional security news can change how investors see Polish assets.
• Global risk mood. When investors move away from risk, emerging-market currencies such as the zloty often weaken.

For how to read these releases, see Fundamental analysis.

Liquidity by session and spread behaviour

Liquidity means how easily a pair can be traded without moving the price.

• European session. EUR/PLN is most active when Warsaw and other European centres are open. Spreads are usually at their tightest then.
• US session. Activity continues while it overlaps with Europe, then thins out after European markets close.
• Asian session and late evening. Volume is low. Spreads often widen noticeably.
• News releases. Around ECB or NBP decisions and major data, spreads can widen and prices can jump past your stop-loss level. This is called slippage.
• Weekends. The market is closed. Prices can open on Monday far from Friday's close. This is a gap, and stop orders may fill at a worse price.

Compared with major pairs, exotic pairs like EUR/PLN often have wider spreads, higher swaps and more gap risk. A swap is the overnight financing charge or credit for holding a position open. See Swap fees.

EUR/PLN at Exness: what to check

We have no sourced confirmation of whether EUR/PLN is listed at Exness, or of its specification. Before relying on any detail, check the symbol and its specification in your trading platform or in the Exness personal area. Look at:

• whether the pair is offered on your account type
• the contract size, digits and minimum lot
• the current spread and any commission
• swap rates and the triple-swap day
• margin requirements and leverage limits for this pair

On swaps, Exness states that "Clients registered from Islamic countries are assigned swap-free status automatically", and Pakistan is in its list. Whether this applies to a given instrument and account is shown in the platform. Check the current terms there.

Risk and the Pakistani legal position

Leveraged CFD and forex trading can lose money fast, including more than you planned for a single trade. A thinly traded pair adds spread and gap risk on top of that. See Risk management.

Pakistani residents should also read Law and regulators. Per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.

Frequent questions

What does EURPLN mean?

It is the price of one euro in Polish zloty. EUR is the base currency and PLN is the quote currency.

Is EUR/PLN a major pair?

No. It is usually classed as an exotic pair, with lower volume and wider spreads than majors.

In which currency is the pip value of EUR/PLN?

In Polish zloty. The pip calculator above converts it to your account currency.

When is EUR/PLN trading most liquid?

Usually during European trading hours, when Warsaw and other European centres are open.

Can I trade EUR/PLN at Exness?

We could not confirm it from sourced information. Check the symbol list and specification in your platform or the Exness personal area.

Why do EUR/PLN spreads widen at night?

Fewer banks and traders are active, so there is less liquidity. Spreads also widen around major news.