The Polish zloty fell against the US dollar today as the market sentiment soured, making riskier currencies of emerging economies less attractive. This may be not that bad in the long run, at least for those Polish policy makers that want the currency to be lower.
Eryk Lon, the newly appointed member of Poland’s central bank Monetary Policy Council, voiced his desire to see the zloty moderately weaker. He said to Reuters:
I would also like to say that if zloty moderately weakens over the next several coming weeks I would not be particularly worried. This would be just an additional pro-export impulse.
He got what he wanted, at least today, as the currency was falling.
USD/PLN rose from 3.9533 to 3.9724 as of 11:15 GMT today.
If you have any questions, comments or opinions regarding the Polish Zloty,
feel free to post them using the commentary form below.