The economic situation in Poland is not playing a major role in the current depreciation of the zloty (PLN), since it is "good," the governor of Poland’s central bank (NBP) has said.
Mateusz Morawiecki, the Polish prime minister said in Gdańsk, northern Poland, that the country would do whatever it could to make the Polish zloty (PLN) moderately stronger.
Poland's Supreme Court on Monday refrained from issuing a ruling on a highly controversial case of currency loans, and instead asked the country's central bank as well as the financial regulator and ombudsman for an opinion.
The Polish zloty on Friday hit the lowest level against the euro in 12 years amid the central bank's dovish stance of keeping interest rates low.
Poland’s national bank intervened on the currency markets on Friday to weaken the zloty, a source close to the bank told PAP Business.
Poland's Finance Ministry had at its disposal the equivalent of EUR 8.19 billion at the end of August 2020, up from EUR 7.16 billion at the end of July, the ministry wrote in a Tuesday statement.
Although Poland faces recession for the first time since the end of communism, initial estimates that GDP will contract by 4.6 percent in 2020 have now been revised to 3.5 percent.
Poland's Finance Ministry had at its disposal the equivalent of EUR 6.76 billion at the end of March 2020, up from EUR 6.38 billion at the end of February, the Finance Ministry wrote in a Wednesday statement.
After regaining independence, Poland was still using Marks. But then, 100 years ago today, it was decided to bin the old and herald in the new by declaring the Złoty as its national currency.
The Japanese Rating Investment and Information agency has confirmed Poland's foreign currency rating at "A-", and raised the country's rating prospects from negative to stable.