WARSAW Feb 1 Poland's Prime Minister Donald
Tusk said on Saturday he saw no need to intervene to support the
zloty as its recent weakening is related to global risk-aversion
and is insignificant compared with other emerging markets'
"If the zloty follows the global mood, then interventions
are ineffective. There is no need for a reaction," Tusk told a
"When we compare the zloty situation to other emerging
markets it is obvious that the zloty's weakening is thankfully
much smaller that what is going on with other currencies," he
The currency fell to a five-month low on Friday.
Poland's central bank intervened to support the zloty last
June when it traded at about 4.3 zlotys to the euro, and the
bank has repeatedly said it is ready to intervene to curb
excessive volatility. At 1057 GMT on Saturday zloty was trading
at 4.2375 versus euro.
Poland's is seen as one of the most resilient economies in
the region, but the zloty has been hit by the global
sell-off in emerging assets.
The former communist country has posted nearly two decades
of uninterrupted growth but its economy slowed sharply last year
and growth fell to near zero in the first quarter of 2013. It
has been gathering pace since then.
($1 = 3.1523 Polish zlotys)
(Reporting by Marcin Goclowski; Editing by Hugh Lawson)