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The Polish zloty rose to its highest level against the dollar in seven years this Monday.
The Polish currency has risen strongly against the dollar, partly due to dollar weakness but also due to renewed confidence in the booming Polish economy. The zloty has increased in value by around one-fifth against the dollar since Poland joined the European Union on May 1, and by over 10 percent against the euro, its main reference currency.
The latest high was reached at 3.30 zloties to the dollar.
Poland has seen strong economic growth this year. Gross domestic product grew by 6.1 percent year-on-year in the second quarter of 2004 after 6.9 percent year-on-year growth in the first quarter.
The benchmark stock index has also risen by almost 30 percent since the beginning of the year.
| Source: News Network | Nov.9.2004 |
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