Poland's national bank intervenes in currency market - source

Leszek Szymański/PAP

Poland’s national bank intervened on the currency markets on Friday to weaken the zloty, a source close to the bank told PAP Business.

The surprise intervention in the zloty by the National Bank of Poland was the first since April 9, 2010 and only the second since the introduction of a free float in 2000.

The action sent the zloty as much as 1 percent lower against the euro during Friday's trading to 4.511. Since then, it has bounced back slightly to 4.485.

The bank had been signalling for some time that it would prefer the national currency to be weaker in order to support economic recovery after Covid-19.