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Poland exchanged 11bn euros on spot market in 2011

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By Shoaib Ur Rehman
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WARSAW: Poland's finance ministry exchanged foreign currencies worth 11 billion euros ($13.99 billion) on the spot market in 2011, it said on Monday.

In April 2011, the ministry announced it would exchange most of the funds it receives from the European Union on the spot market to prop up the Polish currency, adding it had about 13-14 billion euros for the purpose.

The Polish unit lost 11 percent to the common currency in the whole of 2011.

Copyright Reuters, 2012

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