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Zloty Hits 12-Year Low as Pandemic Engulfs Polish Economy

  • Poland just imposed new Covid restrictions to stem flare-up
  • Zloty is second-worst emerging-market currency this month
Updated on

Polish zloty slumped to its weakest level since 2009 on growing concern that the worsening pandemic will delay this year’s economic recovery.

The currency of the European Union’s largest eastern member dropped as much as 0.4% on Thursday to 4.6467 per euro, the lowest level since 2009. It’s been a challenging few weeks for emerging markets, which have been rocked by higher Treasury yields, a stronger U.S. dollar as well as turmoil in Turkey.