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Polish zloty broadly in line with fundamentals - IMF
May 18, 2017 / 11:49 AM / 2 months ago

Polish zloty broadly in line with fundamentals - IMF

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

WARSAW (Reuters) - The Polish zloty's current exchange rate EURPLN= is broadly in line with macroeconomic fundamentals, Anna Ilyina, the head of the International Monetary Fund mission to Poland said on Thursday.

The Polish currency has firmed around 7 percent against the euro since December on the back of gross domestic product (GDP) growth picking up speed, higher investment and an improved situation on international forex markets.

"The real effective exchange rate (of the zloty) is broadly in line with fundamentals," Ilyina told a news conference.

Earlier on Thursday, the IMF urged the Polish government to tighten fiscal policy as soon as possible to take advantage of a strong cyclical upswing in the economy.

Reporting by Marcin Goettig; Writing by Lidia Kelly

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