Bloomberg News

Polish Zloty Gains to Strongest Level in Four Days Per Euro

August 16, 2012

The zloty gained to the strongest level in four days against the euro, erasing earlier declines, before a report that will probably show the U.S. economy is recovering.

Poland’s currency gained 0.2 percent to 4.0777 per euro at 1:40 p.m. in Warsaw, the strongest on a closing basis since Aug. 10. Local markets were closed yesterday for Assumption Day. The yield on 10-year zloty bonds rose three basis points to 5.01 percent, a three-week high.

The zloty has weakened 1 percent since Aug. 6, the second- biggest loss among more than 20 emerging-market currencies, after the current-account deficit widened and an economic adviser to Prime Minister Donald Tusk said the government may cuts its growth forecast. A report today may show the housing market is stabilizing in the world’s largest economy.

To contact the reporter on this story Konrad Krasuski in Warsaw at kkrasuski@bloomberg.net

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


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