Exchange controls

摘要

Polish foreign exchange rules are harmonised with EU standards, and there are no limits on capital flows between Poland and the member states of the European Economic Area (the EU plus Iceland, Liechtenstein and Norway) or the OECD. There are no exchange controls on inward or outward investment.The zloty may be transferred abroad, like all other convertible currencies, and used to settle international transactions. Nevertheless, entities transferring zloty and foreign currencies to and from Poland must submit detailed quarterly reports of their transactions for statistical purposes. The National Bank of Poland (NBP, the central bank) monitors flows. The Council of Ministers sets thresholds and reporting procedures.The zloty trades freely on the interbank market and is not subject to any limitations on its volatility. In 2000 Poland abandoned all currency controls, including the "crawling peg" system that had gradually devalued the zloty within a trading band. The NBP does not set a target exchange rate and is not obliged to intervene in the currency market.