Morawiecki: We won’t intervene on currency markets
14:12
Deputy PM Mateusz Morawiecki said that the Finance Ministry won’t be intervening on the currency markets after the złoty lost ground against major currencies on Monday following the results of the Italian referendum, which could eventually lead to Italy leaving the euro zone.
“The złoty is a liquid currency, and many times, over the course of the last eight-nine years it helped us in buffering macroeconomic risks,” Morawiecki said when explaining his decision, adding that the złoty has been even weaker in the past. “Let us remember that this is a temporary weakness, and not an intense weakening, this helps exporters, and I think that it will contribute to growth,” Morawiecki said.
On Monday morning one euro cost PLN 4.48 while USD 1 was traded at PLN 4.21. Other major currencies also shot up against the złoty.
