Polish banks may show mercy over derivatives losses
WARSAW - Polish foreign exchange derivatives investors are in negotiations with banks to repay losses accrued over a longer period of time, an unnamed Polish central bank official told FX Week .
The investors faced sharp losses on FX derivatives as risk aversion led the zloty to devalue sharply - falling 49% since September to 3.3710 on March 26. Estimates of expected losses have reached 15 billion zloty ($4.4 billion), and key political figures, including Poland's prime minister Donald Tusk
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