The euro gets over PLN 4.80, and the dollar is the most expensive in 21 years

The zloty has been depreciating significantly since the morning. The euro is attacking around PLN 4.80 again, the US dollar is the most expensive since 2001, and the Swiss franc is the most expensive in history. Other currencies in the region are also depreciating. All because of the increase in risk aversion caused by the aggression of Russia and Belarus on Ukraine.

Yesterday's currency intervention by the National Bank of Poland (NBP) has not stopped the willingness to sell off the Polish currency. At 10:00 the EUR / PLN exchange rate was at the level of PLN 4.8010 and was rising by PLN 0.06, after yesterday at noon the euro "shot up" to PLN 4.8084 and was the most expensive since 2009.

The zloty is losing more today to the dollar and the Swiss franc. The USD / PLN quotations are rising by PLN 6.8 to PLN 4.33 and are testing levels not seen since 2001. The CHF / PLN exchange rate increases to PLN 4.7110. Swiss currency has never been so expensive in history.

According to Marcin Kiepas, an analyst at Tickmill, the zloty, like the Hungarian forint and the Czech koruna, have been depreciating significantly since Russia attacked Ukraine. This is the main factor that determines their behavior at the moment. The currency market is slowly beginning to rub against panic behavior, hence the volatility on it is huge and it is impossible to fully predict how it will behave.

(ISBnews)