Poland’s gross domestic product grew above expectations, probably contributing to the rally of the Polish zloty against the US dollar, though currencies of other Eastern European nations gained as well despite weaker-than-expected economic growth.
Polish Z?oty PLN
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
The Polish zloty backed off from the recent highs today after the nation’s central bank decided to keep the record low interest rates unchanged.
The Polish zloty gained during the Friday’s trading session thanks to relatively good performance of the nation’s stock market.
The Polish zloty edged lower today ahead of a credit rating review by Standard & Poor’s that may result in lower credit grade for the Eastern European country.
The Polish zloty fell a bit today after the outlook for this year’s economic growth in Poland was revised lower.
The Polish zloty fell against other most-traded currencies, including the US dollar, during the Friday’s trading session, pressed by expectations of monetary easing from the nation’s central bank.
The Polish zloty fell today after a member of central bank’s Monetary Policy Council signaled that the National Bank of Poland would accept depreciation of the currency if it happens
The Polish zloty fell against the US dollar today as the market sentiment soured, making riskier currencies of emerging economies less attractive. This may be not that bad in the long run, at least for those Polish policy makers that want the currency to be lower.
Poland’s central bank decided to perform an interest rate cut today, reducing all of its borrowing costs by half of a percentage point. Such decision resulted in a drop of the Polish zloty against the US dollar. The currency was still stronger than the euro.
The Polish zloty fell today on concerns that economic troubles in Russia may spread to other Eastern European countries. Yet analysts argue that the future does not necessarily looks bleak for the currency.