Poland puts the brake on zloty

The Polish zloty suffered on the 9 April 2010 after the country's central bank intervened for the first time since the 1990s to stem the currency's rapid rise.

The National Bank of Poland said it had sold the zloty and bought 'a certain amount' of foreign currency. The zloty dropped 1% to 3.8795 against the euro after the announcement, its sharpest fall since late February 2010.

The action came as the central bank sought to rein in the appreciation of the zloty, which rose 6% against the euro in the first three months of 2010, its strongest quarterly rise in six years.

Website: National Bank of Poland http://www.nbp.pl/Homen.aspx?f=en/onbp/informacje/funkcje_banku_centralnego.html

ESO: Background information: Central bank chief death unlikely to affect policy http://www.europeansources.info/record/central-bank-chief-death-unlikely-to-affect-policy/

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