Just three months ago, emerging nations from the Philippines to Brazil were intervening in foreign exchange markets to make exports more competitive. Now they are selling dollars to stem currency declines and quell inflation.
Poland doesn’t plan further sales of foreign currency-denominated bonds this year after the Oct. 27 sale of $2 billion of 2022 dollar bonds, Deputy Finance Minister Dominik Radziwill said on Oct. 28 in an e-mailed response to questions from Bloomberg.
Poland plans to sell $1 billion of bonds as soon as next month, returning to the dollar debt market for the first time in almost a year after delaying plans to issue the securities amid Europe’s fiscal crisis.
Poland may take advantage of a “significant” decline in domestic yields to sell 10-year bonds before the end of the year, Deputy Finance Minister Dominik Radziwill said today in an interview on the central bank’s Obserwatorfinansowy.pl website.