The currency market is constantly volatile. Exchange rates are always uctuating. There are several reasons for this which include many elements such as the economic situation of a country, the strength of the economy, the prospects of monetary policy and nally, the political conditions.
The political conditions are the most interesting element from the perspective of people living in the UK. At the end of November 2015 one pound was worth just over 6 zlotys. Since then the GBPPLN rate has steadily declined. In January 2016, it was still worth about 5.90. At the end of December of that same year it was just under 5.10. Later on, it was even worse. According to many analysts, the pound devaluation is the result of not only the Brexit referendum of June 2016, but also the buildup to Brexit which generated fears among investors during the speculation.
Currently, it is unknown how the United Kingdom’s relationship with the European Union will evolve after the UK departs the Union. Many people believe that due to the uctuations currency rates would require some action in the future (for example leaving the EU). The value of the country’s currency can uctuate depending on investor speculation on a multitude of topics. As a result of this speculation the pound began to lose more value than six months before the referendum and the value of the pound is still falling despite the fact that we do not know yet the real economic consequences that will occur after the Brexit process. The uncertain situation of a country, for whatever reasons, makes the nancial market appear unwilling to hold deposits in the currency of this country. The chart below clearly shows that the GBPPLN market is in a long-term, strong downward trend.
This current trend negatively a ects people who earn pound sterling and need to convert into Polish currency. It raises the question of how to manage in this time when pound is becoming weaker and weaker. Where would be the best place to look for saving money on transfers and what are the best nancial conditions to send or sell pound sterling for instance to Poland?
First and foremost, you should choose a proven and experienced partner. Sami Swoi Premium is the leader in money transfers between Great Britain and Poland. The company was founded in 2004 and we have been providing money transfer services to retail and business customers for almost fourteen years now. We employ over 70 people with specialist know-how in the eld of automated payments to Poland and serve over 300,000 retail and business customers. Our combined experience and professional know-how enables us to develop a secure and timely money transfer system for both retail and business customers. As part of your Sami Swoi Premium account, you will be provided with the care of a dedicated specialist who is always at your service and can o er you support. By entrusting our experts to take care of the money transfers, our customers can focus more on running their own business. Also, our personally selected pricing programme o ers our customers the best possible exchange rate.
Author: Sami Swoi Premium Business Team