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PI Alert
12:31
07.03.2022

EUR/PLN weakest in history

On Monday just before noon, the euro exchange rate weakened to a record level of PLN 5.00 (according to Thomson Reuters BID 4.9958 zł at 11:54). The last record was set on February 17, 2009, when you had to pay PLN 4.93. The weakening of the zloty is the result of the war in Ukraine - investors are selling off assets in the region perceived as threatened both by the economic consequences of the war and sanctions, and the potential extension of the military conflict. Despite the intervention of the National Bank of Poland and the Ministry of Finance, further depreciation of the zloty against the main currencies is likely in the coming days.

PI Alert
12:28
27.12.2021

President vetoes lex TVN

Andrzej Duda sent the amendment to the law on radio and television, dubbed "lex TVN", back for reconsideration by the Sejm. The president justified his decision by, among other things, the 1990 bilateral agreement with the U.S., the principle of protecting economic activity and the principle of freedom of speech, as well as "talks with Poles who did not want another conflict". Duda's veto means the bill won't go into effect as there won't be a three-fifths majority in the Sejm to override the president's decision.

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