The National Bank of Poland (NBP) today sold “a certain amount” of foreign currencies for zlotys, the bank announced.
The central bank informed about the purchase of currencies for zlotys yesterday. Earlier that day, the NBP declared that it was ready to react at any time to excessive fluctuations in the zloty exchange rate, and the current zloty depreciation is not consistent with the foundations of the Polish economy and the direction of the monetary policy pursued.
Earlier today, the Ministry of Finance informed that the foreign currency funds at its disposal will be exchanged primarily on the currency market, and the exchange of these funds at the NBP will be supplementary.
At the beginning of February, the president of the NBP, Adam Glapiński announced that the central bank would do everything to strengthen the Polish zloty and would use all available tools for this purpose. He emphasized that the NBP did not rule out intervention in the event of a sudden hitting the zloty.
In the statement after the February meeting of the MPC it was written that the appreciation of the zloty would be consistent with the direction of the pursued monetary policy.
Source: NBP and ISBnews
