zloty's

"Obviously, the zloty's strengthening means the market has started to price in a January rate increase," said Maja Goettig , senior economist at Bank BPH in Warsaw.

Central Europe Faces Price Pressures Marcin Sobczyk 2011

Dealers said state-owned bank BGK, which acts as the finance ministry's agent in the market, was also selling euros Thursday, supporting the zloty's strengthening.

Poland Intervenes to Prop Up Zloty Patryk Wasilewski 2011

The finance ministry uses the zloty's last fixing of the year to determine the size of the country's foreign-currency debt; a stronger zloty reduces the country's debt ratios.

Poland Intervenes to Prop Up Zloty Patryk Wasilewski 2011

Magdalena Polan, senior European economist at Goldman Sachs, notes that "easy financial conditions, strong domestic and external demand strengthened by the increased competitiveness that followed [the zloty's] depreciation and a recovery in the rest of Europe have been growth-supportive."

Poland's Determination for Reform May Be a Model for the Rest of Europe 2010

Trading in the zloty is easier than in other currencies from the region, making its rise and subsequent fall more dramatic, and there are more financial tools available to hedge against the zloty's movements.

Poland Faces a Dilemma as Its Currency Declines 2009

But, starting in August, a waning economy reduced the zloty's value by a third, turning those options into losses.

Poland Faces a Dilemma as Its Currency Declines 2009

Any decision to begin talks on entering the euro's two-year anteroom run counter to the opinion of Poland's central bank, which said Monday the program is too risky in view of the zloty's weakness.

Poland Looks to the Euro 2009

Sharp swings in the zloty's value could also put pressure on the ECB to defend the Polish currency.

ECB Opposes Quicker Euro Entry for Troubled East Europe Nations 2009

Prime Minister Donald Tusk recently suggested the plan could be flexible due to the zloty's vulnerability.

Poland Looks to the Euro 2009

When Poland's economy was booming, a large number of exporters sought to protect themselves against the diminishing value of foreign currencies by buying options on the zloty's rise.

Poland Faces a Dilemma as Its Currency Declines 2009