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Polish Złoty PLN
Central Bank: National Bank of Poland
Interest Rate: 0.10%
Public Debt to GDP Ratio, 2020: 60%
Trade Balance, 2019: $30.9 bln.
Inflation, 2019: 2.2%
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.
The Polish zloty sank today, reaching a multi-year low against the Great Britain pound. Some market analysts attributed the plunge to the general weakness of currencies of emerging markets due to the strength of the US dollar. But very dovish comments made by the chief of the nation’s central bank were also likely a major contributing factor to the zloty’s weakness.
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.
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.
The Polish zloty dropped today amid political turmoil in Poland that led to confrontation with the European Union.
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.
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.
