Zmienność kursu złotego względem euro na tle innych walut krajów Unii Europejskiej
The volatility of the zloty’s exchange rate to the euro against the background of other currencies of the European Union member states

Summary/Abstract: The aim of the paper is to present the results of research on Polish zloty’s exchange rate volatility in the period of 2009-2013 against the background of other currencies of the European Union member states which adopted floating exchange rate regimes. When carrying out the study, the indicator analysis of statistical data and, to some extent, the analysis of literature were used. Primarily used measure of exchange rate volatility was the ERV index. The conducted analysis indicates a tendency to reduce the volatility of the zloty’s relation, visible especially when compared to other currencies of the European Union countries. On this basis, one can formulate optimistic predictions about the effectiveness of future activities of monetary authorities, oriented on the stabilisation of the exchange rate, which are necessary to the convergence criterion fulfilment. As a result, one can hope that the relation of the zloty will be as stable as it should be, and on the other hand, that potential interventions will be carried out only at a small scale and connected with minimum costs.

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