Aid for Cyprus Leads to Stronger Polish Zloty
The Polish zloty gained today on the optimism about the bailout deal for Cyprus. Gains were contained by concerns that the rescue package will not be enough to resolve all the problems.
Cyprus has reached a deal with the European Union regarding financial aid. The news improved prospects for European economy and Poland’s economy as a result, because more than a half of the Eastern European country’s exports go to the eurozone. Experts are still unsure if the bailout will be enough to rescue the failing banking system of Cyprus and such worries limited gains of the zloty.
USD/PLN went down from 3.2188 to 3.2194 as of 13:41 GMT today.
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Earlier News About the Polish Zloty:
- Zloty Erases Losses, Under Pressure from Fundamentals (2013-03-15)
- Zloty Drops as Central Bank Cuts Rates More than Expected (2013-03-06)
- Polish Zloty Drops on Concerns About Slowing Inflation (2013-02-12)
- Zloty Remains Strong Even as Poland's Central Bank Cuts Rates (2012-12-05)
- Zloty Gains as Investors Show Interest in Polish Assets (2012-09-11)