(Bloomberg) -- Poland's zloty is headed for a seventh weekly gain against the euro, its longest winning streak, on expectations the robust growth of the economy will spur the central bank to keep raising interest rates.
The zloty rose for a third day, soaring to its highest in five years. Last week the Economy Ministry announced first-quarter growth was the fastest in two years and the central bank raised borrowing costs to 4.25 percent. Higher rates is encouraging investors to use the carry trade, whereby funds are borrowed in currencies at low interest rates such as the yen or Swiss franc and used to buy assets in higher-yielding currencies elsewhere.
Read more at Bloomberg Currencies News
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