January 29, 2018 / 3:18 PM / 7 months ago

Poland's MPC member says zloty has firming potential

WARSAW (Reuters) - Poland’s Monetary Policy Council (MPC) member Jerzy Zyzynski said on Monday that the zloty currency has a potential for further strengthening after it rose to euro recently, but further firming could hurt exports.

Polish currency zloty coins are seen in this photo illustration taken in Warsaw, Poland, September 29, 2012. REUTERS/Peter Andrews/File Photo

“Zloty has started to rise. It was 4.17 to euro recently, but today in the morning it was 4.13,” he told the wpolsce.pl internet TV.

“We have a big scope for zloty firming,” he said, adding that zloty is weak in terms of its purchasing power parity. “Keeping this weaker currency is more beneficial (for exports),” he said.

Reporting by Marcin Goclowski; Editing by Lidia Kelly

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