The euro is the cheapest against the złoty in three years

The euro exchange rate against the Polish złoty fell to the lowest level in three years. The złoty has been strengthening for the seventh week in a row and is on track to reach the strongest value since March 2020.

The national currency strengthening is supported by the inflow of foreign capital to Polish assets after the elections, as well as by positive revisions of the country's GDP. The value of Poland's GDP (in constant prices, seasonally adjusted) in the third quarter of 2023 exceeded the previous peak, which was set in the first quarter of 2022.