Thursday, February 9th, 2012
Poland's foreign exchange market sees pre-crisis trading volumes
Currency traders are back with a vengeance. Daily trade volumes on the Polish foreign exchange market are worth some $2.5 billion (zł.7.98 billion), according to traders from the country's largest banks.
Those are levels very close to what they were before the markets crashed in the fall of 2008, dragging foreign exchange trade volumes down to $1.5 billion per day. The market is heating up again thanks to the return of professional investors, reports Parkiet.
"Low interest rates mean that it's easy to borrow the euro," says Piotr Kalisz, chief
economist at Citibank Handlowy. "A relatively weak złoty and large fluctuations make Poland an attractive currency market."
From Warsaw Business Journal
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