The Polish Zloty was trading around 4.7 per USD, not far from its record low of 4.8 hit on July 13th as the central bank governor hinted the monetary tightening cycle could end soon amid the possibility of technical recession next year and despite domestic inflation running at over 25-year high. The National Bank of Poland raised the key interest rate by a slower than expected 50bps to 6.5% on July 7th, in contrast with its regional peers, which have recently surprised with more aggressive tightening. In addition to rising inflation, Poland is grappling with a huge energy crunch after Russia stopped supplying gas to Poland.
.
Historically, the Polish Zloty reached an all time high of 4.85 in July of 2022. Polish Zloty - data, forecasts, historical chart - was last updated on August of 2022.
The Polish Zloty is expected to trade at 4.72 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.04 in 12 months time.