The Polish zloty slipped against the US dollar today as analysts speculated that the central bank will not turn hawkish despite rising inflation. The political turmoil was not helping the currency either.
Polish Złoty PLN
Detailed information and fundamental factors
Central Bank: National Bank of Poland
Interest Rate: 1.50%
Public Debt to GDP Ratio, 2017: 46.2%
Trade Balance, 2017: -$0.4 bln.
Inflation, 2017: 1.9%
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
Polish Zloty Gains as President Duda Vetos Controversial Reform
July 24, 2017 at 11:01 Polish Zloty
The Polish zloty gained today after Polish President Andrzej Duda made a surprise announcement that he is going to veto part of the controversial reform to the judicial system.
Polish Zloty Drops amid Political Turmoil
July 21, 2017 at 15:14 Polish Zloty
The Polish zloty dropped today amid political turmoil in Poland that led to confrontation with the European Union.
Zloty Rebounds as Polish GDP Beats Expectations
February 14, 2017 at 14:29 Polish Zloty
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 Zloty Backs Off as Central Bank Stays Passive
February 8, 2017 at 13:05 Polish Zloty
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.
Polish Zloty Gains on Friday
January 27, 2017 at 12:23 Polish Zloty
The Polish zloty gained during the Friday’s trading session thanks to relatively good performance of the nation’s stock market.
Polish Zloty Edges Lower Ahead of S&P Credit Rating Review
December 2, 2016 at 11:29 Polish Zloty
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.
Polish Zloty Weakens Slightly as Growth Forecast Revised Lower
November 30, 2016 at 11:30 Polish Zloty
The Polish zloty fell a bit today after the outlook for this year’s economic growth in Poland was revised lower.
Polish Zloty Under Pressure from Monetary Easing Outlook
August 19, 2016 at 15:02 Polish Zloty
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.
Polish Zloty Falls After Comments of MPC Member
June 13, 2016 at 17:33 Polish Zloty
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