The Polish zloty dropped today for the third day after it surged at the beginning of this week, causing the speculation that the currency is overbought.
The currency jumped after the Finance Ministry said that the annual inflation rate accelerated to 3.1 percent last month. Marek Belka, the President of the National Bank of Poland, stated that the policy makers would take actions to curb inflation, suggesting the potential interest rates increase.
USD/PLN rose from 2.9758 to 2.9895 as of 13:23 GMT after it dropped earlier as low as 2.9605.
If you have any questions, comments or opinions regarding the Polish Zloty,
feel free to post them using the commentary form below.