The Polish zloty weakened today as negative fundamentals, including slowing inflation, spurred speculations that the central bank will cut interest rates yet again.
Polish Złoty PLN
Central Bank: National Bank of Poland
Interest Rate: 3.00%
Public Debt to GDP Ratio, 2011: 56.7%
Trade Balance, 2011: -$14.1 bln.
Inflation, 2011: 4.3%
High-yielding interest rates
Factors of Weakness
Dependence on the eurozone
The Polish zloty is the official currency of Poland. It has a history dating back to the Middle Ages, but the most recent version of the currency was introduced in 1995 as a result of a redenomination of the old currency. Poland, as a member of the European Union, is expected to introduce the euro as an official currency, but there is no set date and it is not likely to occur in the near future.
Polish Zloty News Archive
May 16th, 2013 at 8:11
May 10th, 2013 at 1:39
The National Bank of Poland cut interest rates earlier this week, surprising Forex market participants. The Polish zloty remained strong even after the unfavorable policy decision.
March 28th, 2013 at 18:00
The Polish zloty rose today as fears of the financial crisis in Cyprus abated after country’s banks reopened today. The currency may yet be damaged by the unfavorable domestic fundamentals.
March 25th, 2013 at 13:42
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.
March 15th, 2013 at 12:09
The Polish zloty gained today, erasing previous losses. The earlier drop was caused by worries that unfavorable fundamentals will lead to another interest rate cut.
March 06th, 2013 at 22:21
The Polish zloty dropped today as the Polish central bank cut interest rate more than was expected, reducing attractiveness of the currency. Yet not all specialists were bearish on the zloty.
February 12th, 2013 at 16:21
The Polish zloty went down today on speculations that a report this week may show that inflation slowed last month for the fourth consecutive month, giving the central bank incentive to lower interest rates.
December 05th, 2012 at 18:18
The Polish zloty managed to appreciate today even after Poland’s central bank slashed its key reference rate amid the economic slowdown and hinted that further rate cuts are possible.
September 11th, 2012 at 16:47
The Polish zloty strengthened today after JPMorgan Chase & Co. changed its view on the currency and as yesterday’s debt auction ended with a good result, showing that investors are interest in nation’s assets.
August 24th, 2012 at 14:10
The Polish zloty fell today amid talks that Greece may fail to convince Germany to allow the next tranche of bailout, damping risk appetite among Forex market participants and reducing demand for currencies of European nation.