15:10 15 July 2023
The US dollar drops below PLN 4 for first time since outbreak of war in Ukraine
The dollar exchange rate has surpassed the psychological barrier of 4 PLN, reaching a level not seen since February 2022. The positive sentiment of investors towards emerging markets, including Poland, has been ongoing since October of last year. This global factor is responsible for the majority of the strengthening of our currency. Clear differences in interest rates between major markets and Poland, positive trade balance, and good economic performance have also played a role. According to Andrzej Stefaniak, an economist at DMK, the trend of the strengthening of the Polish zloty is expected to continue in the coming months and even quarters.
"The macroeconomic factors, the environment, and the international situation make the zloty part of a long-term strengthening trend, which is likely to persist," Andrzej Stefaniak said.
"In the following months and quarters, we will observe lower currency exchange rates against the zloty, meaning the zloty will become stronger. This is very good news for all of us because it will lead to lower prices, for example, gasoline at gas stations, and Polish exporters will maintain their profit margins, as the strength of the zloty increases against the US dollar,” he added.
(Newseria)
