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When we think of currencies the key ones that come to mind are the British Pound, the euro, the yen and the Swiss franc. However, sometimes it pays to give notice to lesser traded currencies like the Polish zloty. Why? Since the world is interdependent what happens in one country can affect a larger group of countries.
Such is the case with the Polish zloty. The zloty hit its weakest level since joining the European Union. This is especially disappointing since plans are underway for Poland to adopt the euro in 2012.
So far this year the zloty has fallen 14% against the euro amid fears that Poland will find it difficult to finance its current account deficit. The situation is further aggravated because Poland is an export driven economy and exports have fallen off sharply.
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