Polish Zloty At 10-day Low Against US Dollar

Poland's currency edged slightly higher against its US counterpart in early New York trading on Friday following the National Bank of Poland announced that the core annual inflation stood at 2.9% in October, the same pace as in September.

The Polish zloty that closed yesterday's deals at 2.7699 against the US dollar dropped more than 1.4 percent to a 10-day low of 2.8108 in early trading today. The domestic unit then drifted higher to 2.788 before leveling off around 9:00 am ET and the pair is presently quoted at 2.794.

This was the fourth consecutive month of stable inflation, after a 2.7% growth seen in August-the report showed. The core inflation came in line with economists' expectations. Month-on-month, the core CPI rose 0.2% in October, unchanged from the previous month.

Meanwhile, the consumer price index or CPI rose 3.1% year-on-year in October, slower than the 3.4% growth in the previous month. On a monthly basis, the CPI rose 0.1% in October, after a flat reading in the preceding month.

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