On Tuesday afternoon we observe a slight strengthening of the zloty. Around 6.30 pm the price was PLN 4.57, the dollar – PLN 3.86, the British pound – PLN 4.99, and the Swiss franc – PLN 4.25.
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Around 10.00 a.m. you had to pay PLN 4.58 for the euro. The dollar cost PLN 3.89, the British pound – PLN 5.04, and the Swiss franc – PLN 4.28.
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In the following hours of trading, the zloty recovered some losses. Around 6.30 pm, you had to pay for the British pound by as much as 5 cents less than in the morning.
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Economists’ comments
“Looking at the developments in the currency market in recent days, it can be seen that the zloty reacted more negatively to the information about the pandemic development rate than other currencies. It seems that investors started to pay more attention to the situation in individual countries. The situation in Poland, i.e. fast The increase in new infections, the deteriorating situation in the health care system and possible new restrictions mean that the outlook for the zloty in the coming days is not too positive “- indicated Marcin Sulewski, Santander BP economist.
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“The EUR / PLN rate will probably remain at an elevated level. The level of 4.60 may be tested in the near future,” he added.
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On Monday, the senior economist of ING Bank Śląski Piotr Popławski predicted that a further weakening of the zloty against the euro was possible.
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– Taking into account the Monday events on the currency market, there is a growing risk that the EUR / PLN exchange rate may attack the levels of 4.60-4.62 within the week. The market sentiment is still unfavorable for the currencies of emerging markets in Europe. The problem is the escalating second wave of the pandemic. This weighs heavily on all currencies in the CEE region, in particular the zloty, due to the easing policy of the NBP – assessed Popławski.
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photo-source">Main photo source: Shutterstock
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