In July, we observed quite a high pound sterling rate to other currencies, including the zloty. Sometimes the rate exceeded even 5 zlotys per pound. The main causes of the stronger pound are the symptoms solving the Brexit problem, fulfilling the post-election promises in Great Britain and the attempt to establish cooperation with the coalition partners. This of course applies to the strengthening of the English currency. This has its most obvious justification. So we have guaranteed emotions ahead of us and we have a good chance of getting a good income if we manage our capital wisely.
We always operate on the amount of 10 thousand zlotys and on it we sell or buy pounds and do not change this amount.
On August 1, for one pound, we paid an average of 4 zlotys and 81 groszys. This is a fairly high rate from the last weeks and leaves a big question mark whether to exchange our 10,000 zlotys or is it better to withhold this decision?.
We approach the decision very carefully. Probably, however, the pound will slowly slow down against other currencies including the zloty. There is nothing else to do but be patient and wait for the weakening of the British currency.
We'll wait a bit until mid-month. When the pound weakens to about 4 zlotys and 75 groszy. This will be the right time to buy pounds. We buy 4 zlotys and 75 cents at the exchange rate. Thanks to that we will have 2105 pounds available. After August 20, the pound will start to recover and strengthen. Under favorable circumstances, around August 27, it will go up to around four zlotys and PLN 0.82. It seems like a good time to sell our 2105 pounds and we will do it. Thanks to that, we'll get 146 zlotys. Pretty good. Now we will start to wait for the variation of the course again.
The exchange rate will take place in the last days of August, then the rate will be slightly lower and will drop to PLN 4 for PLN 76-78. Is it worth to buy pounds with such a course or wait for a better month of September?.
It seems that we will wait for the beginning of the month of September. Then the rate will fall below PLN 4 and PLN 0.75 and it will be a good moment to buy pounds, because in the second and third decades of September the British currency will rebound. We will give more on this subject at the end of August.
A short summary:
When conducting a currency exchange transaction within one month, we should earn a good few hundred from the invested PLN 10,000. In our opinion, it is still better than for any investment in a bank or investment fund. By operating larger amounts of money, we have a good chance of earnings and the risk of starting is not that big.
But to earn such money you have to turn it in the money counter. We will not be able to pay for it in the bank, because the bank wants to make a profit and would earn an estimated PLN 500 on our 10,000 zlotys. We would lose more than they gained. So it is worth remembering about it.
Of course, all data and information published on our website are meant to be just a forecast for you. And the forecast is different. From the relationship, with which we do not accept any responsibility for your transaction.