Santander BP: Złoty will remain strong in 2024

The zloty will remain strong in 2024, with the average EUR/PLN exchange rate below 4.30, economists from Santander Bank Polska forecast. The national currency will receive support from the inflow of EU funds, higher economic activity, and a more hawkish attitude of the National Bank of Poland than currently estimated by the market, the bank said.

"We forecast the average EUR/PLN exchange rate below 4.30, but volatility may increase periodically under the influence of political and geopolitical tensions,” it added.