As the interviewees pointed out, BGK tries to limit the weakening of the zloty by selling euro. BGK declined to comment on the matter.
“Certainly, BGK has been regularly visible since the beginning of the war. They switched to converting EU funds on the market and from time to time they appeared in small amounts” – the first interviewee told PAP Biznes.
“Over the last few days, they are evidently present regularly. Or every day – I do not have such statistics, but you can see them. They clearly show that they are on guard. For a long time they tried to limit the rate around 4.86 / EUR. what they are trying to put up a dam for traffic “- he added.
The other interlocutor stated that BGK sets a certain level of the rate and blocks it. This looks like a traffic brake, not an active course takedown.
According to yet another interlocutor, BGK has been very active in the currency market in recent days, counteracting the weakening of the zloty.
Bank Gospodarstwa Krajowego is a Polish state development bank, which, among others handles payments under programs financed with European funds. During the financial crisis in 2011, BGK regularly exchanged EU funds for zlotys from EU funds.