The zloty weakened beyond the optimal level. The central bank should take exchange rate issues into account in its decisions, Paweł Borys, president of PFR, told Bloomberg.
Boris added that the government has instruments (which were already effective in 2022) to strive for an optimal exchange rate.
The head of PFR said that the zloty had weakened beyond the optimal level, and the central bank should take exchange rate issues into account in its decisions. According to Paweł Borys, the optimal exchange rate for the Polish zloty is in the range of PLN 4.4-4.6 per euro.
Let us remind you: the zloty remained weak against the main currencies on Wednesday morning. Approx. At 8.30 the euro was worth PLN 4.67, the dollar was PLN 4.35 and the Swiss franc was PLN 4.88. This is less than during yesterday’s (Tuesday) afternoon crash (the price of the franc reached PLN 4.91).
“The USDPLN rate dropped quite significantly after the morning increases to around 4.35 to 4.32. We observed two waves of zloty strengthening. The first one after the opening in Europe and the second one around 10:40 a.m., when in an interview for Bloomberg, Prime Minister’s advisor Borys pointed out “that the zloty is currently a bit too weak,” XTB analysts comment.
Borys also pointed out that Poland has tools to counteract excessive depreciation of the Polish zloty, and the central bank should take the zloty into account when making subsequent decisions. In his opinion, the optimal EURPLN level is the range of 4.40-4.60.
“At the same time, we cannot rule out potential intervention in the currency market by the National Bank of Poland,” wrote XTB experts.
EUR/PLN
Buying rate
business-info-profile-live-list-value" data-profile-live-update="value-buy">4,6263
Selling rate
business-info-profile-live-list-value" data-profile-live-update="value-sell">4,6298
Max
business-info-profile-live-list-value" data-profile-live-update="value-max">4,6750
Min
business-info-profile-live-list-value" data-profile-live-update="value-min">4,6250
Average exchange rate
business-info-profile-live-list-value" data-profile-live-update="value-average">4,6281
Reference rate
business-info-profile-live-list-value" data-profile-live-update="value-reference">4,6593
USD/PLN
Buying rate
business-info-profile-live-list-value" data-profile-live-update="value-buy">4,3066
Selling rate
business-info-profile-live-list-value" data-profile-live-update="value-sell">4,3101
Max
business-info-profile-live-list-value" data-profile-live-update="value-max">4,3544
Min
business-info-profile-live-list-value" data-profile-live-update="value-min">4,3091
Average exchange rate
business-info-profile-live-list-value" data-profile-live-update="value-average">4,3084
Reference rate
business-info-profile-live-list-value" data-profile-live-update="value-reference">4,3306
CHF/PLN
Buying rate
business-info-profile-live-list-value" data-profile-live-update="value-buy">4,8260
Selling rate
business-info-profile-live-list-value" data-profile-live-update="value-sell">4,8300
Max
business-info-profile-live-list-value" data-profile-live-update="value-max">4,8829
Min
business-info-profile-live-list-value" data-profile-live-update="value-min">4,8274
Average exchange rate
business-info-profile-live-list-value" data-profile-live-update="value-average">4,8280
Reference rate
business-info-profile-live-list-value" data-profile-live-update="value-reference">4,8615
***
JOWs, i.e. single-member INTERIA.PL electoral districts
2023-09-13 10:02:33
#Exchange #rates #zloty #strengthened #verbal #intervention
