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The exchange rate of the franc is higher than PLN 5. Weakness of the zloty after Putin’s threats

The exchange rate of the franc is higher than PLN 5. Weakness of the zloty after Putin's threats

The exchange rate of the franc broke the level of 5 Polish zloty. This is the first such situation in history, not counting the intraday snapshot of the exchange rate on January 15, 2015 after the decision of the Swiss Central Bank to abandon the policy of defending the minimum exchange rate of the euro against the Swiss franc.

On Wednesday after 17.00, due to investors’ risk aversion, The zloty also loses against other major currencies. The euro is at 4.78 PLN, and the dollar exchange rate has broken the 4.83 PLN level.

Recently, the franc has strengthened, among other things, due to a change in the policy of the Swiss National Bank (abandonment of the policy of defending its currency exchange rate against strengthening) and the war in Ukraine. Russian President Vladimir Putin’s decision does not support the exchange rate of the zloty against the franc, Wednesday. About partial mobilization in the country. These are the conditions that increase investors’ aversion to risk: they are not conducive to riskier assets (which include the zloty) and help the dollar. As a result, the exchange rate of the Swiss franc / Polish zloty increased by 1.8%. Up to PLN 5.01.

See also  Currencies: is it really a disaster for the zloty?
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