Poland will not intervene on FX market: FinMin
PR dla Zagranicy
Roberto Galea
28.06.2016 13:20
Polish Finance Minister Paweł Szałamacha has said that the country’s government will not intervene on the Foreign Exchange (FX) markets following the Brexit referendum.
Finance Minister Paweł Szałamacha. Photo: Polish Radio
“We will not intervene for the time being,” Szałamacha told Polish Radio.
“The weakening of the [Polish złoty] currency in the first five months of this year had a positive impact on the trade balance, among other things,” he said.
He added that the situation on the currency market has begun to stabilise following the first swings on Friday and Monday.
The euro and the US dollar have dropped against the złoty since spiking on Friday morning.
“The exchange rate level has begun to return to levels seen before the Brexit referendum. The same applies to Polish bonds,” Szałamacha said.
On Friday the UK voted to leave the EU, sending shock waves through global financial markets. (rg)