The Polish zloty’s appreciation may be restrained as the new head of the central bank will likely to continue the previous governor’s policy of curbing the gains in the nation’s currency.
The skyrocketing zloty’s appreciation has hurt the country’s exporters, demanding the intervention from the central bank. The bank’s governor died in the plane crash, which has taken also the life of the Poland’s President, amongst others. On the day before the tragedy the bank performed its first intervention in 12 years, beginning to sell the currency to halt the zloty’s appreciation. While the next head of the central bank is not yet nominated, there is no reason to believe that he wouldn’t continue to restrain the Polish currency’s gains to keep the inflation in check.
USD/PLN traded near 2.8548 as of 10:43 GMT today after it opened at 2.8398.
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