NBP reserves the right to intervene

Further depreciation of the zloty would not be consistent with the fundamentals of the economy and the monetary policy pursued by the NBP, wrote Adam Glapiński, the head of the NBP, in response to Interia’s questions.

“As I said, the current weakening of the zloty is influenced by several factors, but the economic situation in Poland is certainly not one of them. Because this situation is simply very good. Therefore, I would like to emphasize that a further depreciation of the zloty exchange rate would not be consistent with the foundations of the Polish economy, nor with the monetary policy pursued by the NBP. Let me also remind you that the exchange rate of our currency is floating, but the NBP reserves the right to intervene in the currency market. This is standard practice followed by many central banks around the world, especially in small open economies. Nothing has changed in this matter “- he wrote.

“We must not forget about the pandemic, which still affects the moods in the financial markets, and in recent weeks in Europe and Poland, as we know, a wave of cases is growing. the increase in NBP interest rates in recent months and the fact that market participants in their analyzes and valuations assume a scenario of further interest rate increases should be favorable for the zloty“- added Glapiński.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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