Russia-Ukraine conflict escalation pushes EUR/PLN up
April 30, 2014
Poles who are going abroad for the upcoming long May weekend will have to pay more for the EUR due to the escalation of political conflict in Ukraine, economists say.
The EUR/PLN will be traded slightly above 4.20 at the beginning of May, FX analyst of Akcenta company Miroslav Novak said adding that further escalation of the situation in Ukraine could push the EUR/PLN towards 4.26.
Credit Agricole economist Jakub Borowski said that the situation in Ukraine is unpredictable, but added that several events scheduled for this week may support the Polish currency. A lower than expected inflation reading in the euro zone and good PMI could help the zloty gain strength.