Ten out of thirteen analysts polled by “PB” expect
that the Polish currency will be cheaper against euro next month. U.S. dollar
and Swiss franc will also cost more. The depreciation will not be very high,
though. According to the average forecast, the EUR/PLN rate will amount to 3.82
(the maximal forecast is 3.86), USD/PLN rate will grow to 2.81 (maximal forecast
is 2.88) while CHF/PLN rate will increase to 2.33 (maximal forecast 2.41).
Analysts believe that this month investors will want to sell the zloty after
it appreciated more than expected in April. The majority of analysts were
surprised with the scale of the appreciation. EUR/PLN rate dropped 2 percent,
CHF/PLN rate fell 3.1 percent, USD/PLN rate dived 4 percent. This was mainly due
to the fact that the U.S. currency was sold worldwide and dollar fell to the
lowest levels against euro in history.
The depreciation should not last too
long because macro data are the most important to investors while they show very
good situation of the Polish economy.
(PLN 1 = EUR 0.264)
Analysts expect zloty depreciation this month
Warsaw (Puls Biznesu) - Analysts polled by “PB” believe that the Polish currency will be cheaper next month.