Warsaw - The Polish zloty hit its lowest point in several years on Monday when it traded at 4.77 against the euro.

The zloty also traded at 3.3 against the Swiss franc and 3.74 against the dollar in what was a historic low point for the currency.

"This should simply be explained by dismal sentiments and a huge aversion to risk," analyst Piotr Poplawski of Bank BGZ told the Puls Biznesu daily. "In this situation, the Polish currency will head in the direction of 5 zlotys against the euro, and I expect that barrier to break next month."

Polish officials recently admitted the country is not immune to the world financial crisis. They had previously assured that Poland would be safe thanks to a strong banking system.

The country's GDP could grow by as little as 1.7 per cent in 2009, while inflation could be up 1.9 per cent, according to forecasts. (dpa)