Poland Currency PLN to PKR

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Poland Currency PLN to PKR

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At the same time, the National Bank of the Czech Republic lowered the kroon by 4.4% against the European currency. This is the largest operation in the country over the past 15 years. Some other states have done the same, and it is becoming more and more difficult to buy currency at a favorable rate. As a result, the IMF reduced its forecast for world economic growth in 2014 from 3.8% to 3.6%.

At the same time, despite the fact that at the G20 summit in St. Petersburg, the head of the WTO said that the level of world trade growth fell by 0.8% (to 2.5%), many of its participants refrained from competitive devaluation. At least they are not going to deliberately devalue national currencies by political means. On the other hand, many observers said that the quarterly profit fell due to the growth of the euro against the yen and the dollar. Accordingly, European countries will not stop at forced devaluation.

It should be noted that the increase in the paper stock of the dollar and the yen is a “wake-up call” while the Central Bank of Europe continues to cut rates. In the long run, this means that the dollar will devalue faster, playing into the hands of the US economy, while the European economy could suffer losses, keeping the euro high. It will be possible to judge in the coming months how the currency wars will end.