Bloomberg News

Zloty Rebounds From Two-Month Low as German Confidence Improves

November 24, 2011

Nov. 24 (Bloomberg) -- Polish zloty advanced, rebounding from a two-month low, after German business confidence unexpectedly rose for the first time in five months in November.

The zloty jumped 0.3 percent to 4.4786 as of 10:52 a.m. in Warsaw. The currency dropped to the weakest level since Sept. 23 yesterday. The Munich-based Ifo institute’s business climate index, based on a survey of 7,000 executives, increased to 106.6 from 106.4 in October. Economists expected a decline to 105.2, according to the median of 40 forecasts in a Bloomberg News survey. Germany is Poland’s largest exports market.

--Editors: Ana Monteiro, Linda Shen

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net;

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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