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Polish złoty weakens over Brexit

PR dla Zagranicy
Paweł Kononczuk 24.06.2016 08:08
The Polish złoty has weakened following news that Britons have voted to leave the EU in a referendum, a result that sparked turmoil on global markets.
Photo: pixabay.comPhoto: pixabay.com

Shortly before 8am on Friday, the Swiss franc cost PLN 4.23, up PLN 0.30 since Thursday, Polish Radio reported.

The euro cost PLN 4.52, the most since 2011. The US dollar cost PLN 4.12, the most since January this year.

The British pound hit its lowest level to the US dollar for 30 years. The pound also weakened against the Polish złoty, costing PLN 5.36 at one point, then strengthening to 5.47.

Poland’s finance minister said on Wednesday the country could expect a temporary weakening of its national currency if Britons voted to leave the EU.

Paweł Szałamacha told reporters: "We can expect a transitional depreciation, while later financial markets will pay more attention to fundamentals; to how we are able to carry out our program and keep the deficit in check, increase budget revenue, while also rationalizing spending.” (pk)

Source: Polish Radio

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