In the current high uncertainty due to the war in Ukraine, the EUR/PLN exchange rate will stay in the 4.7-4.8 range for “some time”, and the USD / PLN exchange rate – in the 4.3-4.4 range, believes a member of the Monetary Policy Council ( MPC) Ludwik Kotecki.
“Our currency will shape when it comes to the euro in the range of 4.7-4.8, the dollar: 4.3-4.4. We will have to live with such a course for some time, ”Kotecki said in an radio interview.
The uncertainty makes it hard to predict
When asked to clarify the term “some time,” he said, “This is the main thing to talk about now, which is great uncertainty.”
“We do not know how the conflict [beyond the eastern border] will translate into economic life in Poland, into the exchange rate, which is shaped not only by the domestic market, but also by foreign markets,” summed up the member of the Council.
Today, around 9:30 am on the currency market, the Euro was traded at PLN 4.75, and the dollar was traded at PLN 4.34.
In recent weeks the National Bank of Poland has tried to support the Polish Zloty and for now it seems to have worked to some extent.
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So stay tuned and have a nice day.
Source: ISBnews
