Chojna-Duch: PLN facing threat of weakening from rising risks of external turbulence

Poland’s zloty is facing the threat of depreciating as a result of rising risks of external turbulence, albeit this does not change the view that the zloty has recently remained “rather stable”, rate-setter Elzbieta Chojna-Duch said.

While the Polish currency has stayed “quite stable against the euro for the past three years, now concerns about the rising risks related to various external turbulence such as the ones [coming from] China or Syria may weaken the zloty,” Chojna-Duch said.

“But this does not change the basic point of view that the zloty has been rather stable recently,” she stressed.

“The zloty and CEE currencies generally remained resilience to FX wars over a longer time, resistant to QE,” rate-setter elaborated. “Solid fundamentals and strong links to the EU are the main reasons behind it.”

jba/ mie

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