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The zloty weakened for a second day after the Polish current-account deficit rose in January to the widest in six months.
The zloty depreciated 0.5 percent to 4.1318 per euro as of 3:49 p.m. in Warsaw, the steepest decline among 25 emerging- market currencies tracked by Bloomberg.
The current-account gap expanded to 1.83 billion euros ($2.39 billion) in January from 1.34 billion euros in December, the central bank said in an e-mailed statement today. The deficit was wider than the median forecast of 1.03 billion euros in a Bloomberg survey of 20 economists.
The zloty is “under pressure at the moment, as these are pretty disappointing headline current-account deficit numbers,” Timothy Ash, London-based head of emerging-markets at Royal Bank of Scotland Group Plc, wrote in an e-mailed comment. “The deficit had been on an improving trend in recent months, so this marks an about turn.”
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