Poland has intervened in the currency market to strengthen its currency, The Wall Street Journal reports. The Polish government is seeking to convert euros to zlotys in the open market. The government will exchange about €14 billion that it expects to receive from the European Union this year and around €18 billion in 2012, adds Bloomberg. The move will ease pressure to increase interest rates, reduce volatility and absorb liquidity on the interbank market.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Bloomberg.