Latest PLN news courtesy of CurrencySolutions.com
August has been a positive month for currency exchange rates, bringing the unexpected news that France, Germany, Hong Kong and Japan have all emerged from recession.
France and Germany recorded 0.3% growth in the second quarter, leading to a rally in euro exchange rates. This in turn boosted currency rates in Eastern Europe, as markets benefitted from the prospect of higher production, trade and greater financial stability.
The Polish zloty has climbed 4.5% against the euro since July, and tends to rise alongside optimism in the market. Poland is still one of a handful of countries to have escaped recession and growth is set for 0.5% in 2009. However inflation is running well above target, at 3.6% and this could weigh on zloty in future.
Governor Owsiak, of Poland’s central bank recently stated: “going by zloty’s recent moves, one can’t identify a clear trend” and zloty remains subject to considerable volatility.
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