Zloty Hits 10-Year High as Exporters Demand Central Bank Action

The zloty briefly surged to the highest level against the euro in a decade, alarming exporters and the Polish government, with the appreciation exacerbating concerns over the central bank’s tight interest rate policy.

The Polish currency gained as much as 0.3% to 4.1272 to the euro on Thursday — the strongest level since July 2015 — before losing ground as Eastern European currencies dropped amid renewed concerns over US tariffs. The zloty traded 0.5% weaker as of 4:40 p.m. in Warsaw.