What are the factors that influence the exchange rate between US dollars and zloty in the digital currency market?

1 answers

• Nov 29, 2021 · 3 years ago
  When it comes to the exchange rate between US dollars and zloty in the digital currency market, several factors come into play. Firstly, the monetary policies of the respective countries can have a significant impact. For example, if the Federal Reserve in the US decides to raise interest rates, it can strengthen the US dollar and lead to a higher exchange rate. On the other hand, if the National Bank of Poland implements expansionary monetary policies, it can weaken the zloty. Additionally, economic indicators such as GDP growth, inflation, and trade balances can also influence the exchange rate. Moreover, market sentiment, investor confidence, and global economic events can create volatility in the digital currency market, affecting the exchange rate between these currencies.
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