2025-08-22 10:42
publication
2025-08-22 10:42
Friday morning brought a prominent weakening of the zloty. The euro exchange rate increased above PLN 4.26 after the Ministry of Finance as part of the tax offensive proposed the tax “Domiar” for the banking sector.
The WSE is evacuating from banks shares in response to the government plans for the tax introduction of “Domiar” for the banking sector, which are to deprive banks of bank shareholders in the next 10 years. Stock market ratings have reduced up to 9-10%. And it is the banks who are the favorites of foreign investors and are a “gate” for them to invest on the Warsaw Stock Exchange.
This outflow of foreign capital is also visible on the currency market. On Friday at 10:41 the euro exchange rate grew by one penny, growing to PLN 4.2642. In total, for the previous three days of euro, it increased by more than two grosze after Tuesday was the cheapest in a month. They may not be very drastic changes, but they signal the deterioration of sentiment to the Polish currency.
However, in global markets we observe the slow strengthening of the dollar while waiting for the afternoon speech of the chairman of the federal reserve. Last week, participants of the financial markets were convinced that at the opening of the symposium in Jackson Hole, the head of the Fed would signal the September reduction of interest rates. However, now the market is not so sure of this scenario. All thanks to the CPI base inflation in the US growing and higher than the expectations.
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As a result, the dollar on the Polish market was expensive by 1.4 grosze, reaching a rate of PLN 3.6780. In this way, the USD/PLN exchange rate jumped from the July minimum (PLN 3.5858) and left the medium -term downward trend drawn since the beginning of the year.
The Swiss Frank was valued at PLN 4,5430, so less than a penny higher than Thursday evening. In the case of the Frank-gold steam, a side trend is still in force in the range of PLN 4.50-4.60. The British pound has increased by over two grosze, for which PLN 4.9328 had to be paid in the morning.
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