World worried about weakness of Polish currency
21:50
For at least a week, currency analysts have been writing about the weak performance of the Polish currency. On Wednesday, the zloty weakened so much that it attracted the attention of international media. The Bloomberg agency wrote that the Polish currency is "the weakest in 12 years". For 1 euro on Wednesday, you had to pay PLN 4.64. It was not much better on Thursday when the rate was 4.63.
"The zloty has weakened to the lowest level since 2009. Recent weeks have been difficult for emerging markets, which were hit, among others, by the strong dollar and turmoil in Turkey," the agency wrote
Bloomberg stressed that the fall in the value of the Polish currency is also a direct result of the announcement of new restrictions.
"Macroeconomic issues recede into the background when the zloty falls out of favor with foreign capital," analysts stated.
The XTB analysts also see the problem with the Polish currency. "Something is in the air", they say in their report, the dollar is strengthening and the zloty is doing poorly against the euro.
Experts of the Cinkciarz.pl portal claim, in turn, that "the zloty lacks arguments" to resist global trends. Investors seem to notice neither the relatively good economic conditions in Poland nor the prospects for a solid 4 percent GDP growth.
"The zloty is weak and threatened with a further sell-off," the analyst of the portal concluded.
