The Polish currency hit a six-month record versus the euro, after getting a World Bank loan to rescue the country from one of the most severe recessions among the European Union bloc members.
According to Regional Development Minister of Poland Elzbieta Bienkowska, euro should be adopted as soon as possible because zloty’s appreciation partially eliminates the value of the financial aid made by European Union and which is denominated in euro.
The rising interest rates difference between the U.S. and Poland stimulated the second week of Polish zloty’s growth against the U.S. dollar.
After two other European central banks decided to hold their current interest rates, Czech and Polish banks chose to follow the same way and didn’t change their reference interest rates despite the fact that they both raised the rates at the end of November.
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