During the Christmas week the zloty fell against the main currencies from 0.10 to 0.15 PLN. The euro tested the level of 4.40, the franc went over 3.65 and the pound came close to a 7-year high. What was the reason of such a dramatic sell-off of the Polish currency and what is to be expected on Monday?
Rapid zloty fall
The currency market can often surprise with unexpected changes or rapid movements. However, this situation during Christmas trade has never occured before. On Christmas Eve the euro was 4.30 PLN and on the 26th December the common currency cost 4.40 PLN. Similar situations occured with the franc, pound and dollar.