Złoty further gains against the euro

The currency has made significant gain against the euro and other European currencies since Wednesday when Prime Minister Donald Tusk announced his plan. On Friday, it jumped by 1.4 percent against Thursday's domestic close.

Meanwhile, the announcement was welcomed by the European Union, but analysts and some EU officials are skeptical that Poland can keep to the timetable saying it is too tight. The złoty also needs to spend two years in the ERM 2 system proving that it can stand ground against the euro.

The Polish government intends on continuing with the plans among skepticism including the Polish Central Bank, which has called the plan "very ambitious." According to the head of the central bank Sławomir Skrzypek told reporters the government has not consulted on its plans for euro adoption. (AO)

Source: Reuters