The Polish zloty gained today as nation’s economic growth is accelerating, demonstrating that the economy is on track to recovery. The data suggests that an interest rate hike may happen very soon, adding to the attractiveness of the currency.
Poland’s Central Statistical Office reported that gross domestic product rose 2.2 percent in the fourth quarter of 2013 from a year ago after increasing 1.8 percent in the third quarter. The economy expanded 0.8 percent last quarter from the previous three months. Growth gained momentum thanks to the relatively low interest rates and the general recovery of European economies.
USD/PLN fell from 3.0353 to 3.0211 as of 11:36 GMT today.
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