No fundamental reasons for zloty weakening – central bank
January 30, 2014
Poland's zloty has no fundamental reasons for weakening, but the central bank NBP closely monitors the situation on the market, NBP management board member Eugeniusz Gatnar said.
"There is nervousness on the market, investors are acting emotionally, herd behavior prevails. However, our fundamentals are strong and that is why there are no reasons for the zloty to weaken," Gatnar said, pointing to the situation of Turkish lira and tensions related to QE tapering as reasons behind FX markets volatility.
"As always, we closely monitor the situation," he assured. "Excessive volatility of the zloty rate would be a negative phenomenon. However, for the time being we see no reason to worry."