UPDATE 1-Polish zloty around 4.20 vs euro till yr-end: cbanker - News

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UPDATE 1-Polish zloty around 4.20 vs euro till yr-end: cbanker

By: AFX | 09 Nov 2009 | 03:28 AM ET

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WARSAW, Nov 9 (Reuters) - Poland's zloty is likely to oscillate around 4.20 against the euro until the end of the year, the central bank's deputy governor Witold Kozinski said on Monday. "The zloty should not strengthen or weaken significantly until the end of the year," Kozinski told TVN CNBC. "It is likely to fluctuate around 4.20, plus minus 0.04." Poland's zloty came under pressure last week as appetite for risk weakened in global markets but it has reversed some of its previous losses with analysts polled by Reuters expecting the Polish unit to strengthened to 3.85 against the euro in a year's time. At 0800 GMT the zloty was 0.4 percent stronger to the euro, trading at around 4.22. Kozinski also said Poland could enter the pre-euro ERM2 rate exchange mechanism in 2 years at the earliest. When asked whether Poland could enter the ERM-2 with the zloty rate above 4.0 to the euro, Kozinski answered: "One could agree with such a version." Last week the finance ministry and the central bank said Poland might publish its national euro adoption plan in mid-2010. In a roadmap released more than a year ago Warsaw said it wanted to adopt the single currency in 2012, which would have required entering the pre-euro exchange rate mechanism this year. (Writing by Dagmara Leszkowicz, editing by Mike Peacock) Keywords: POLAND ZLOTY/ (dagmara.leszkowicz@thomsonreuters.com, RM: dagmara.leszkowicz.reuters.com@reuters.net, tel +48 22 653 9718) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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