Poland's zloty still has appreciation potential but may suffer short-term weakening caused by external factors, the Economy Ministry experts wrote in their quarterly report.

"Despite uncertainty as to the durability of economic revival in the US and stabilization of economic activity in the EU on a relatively low level it is assessed that the zloty still has appreciation potential," the analysts wrote.

"Hence further short-term divergences - caused mainly by external factors - from the zloty's appreciation trend cannot be excluded," they added.