LONDON, January 4, 2017 /PRNewswire/ --
Bloomberg's fourth quarter ranking of 2016 placed Cinkciarz in first place for its forecasts for the USD/PLN currency pair. The financial analysts of the currency exchange market leader also placed third for the summary ranking of the Latin American currencies.
The forecasts for the US dollar and Polish zloty pair, prepared by Cinkciarz, were awarded first place in the prestigious Bloomberg Rank. The predictions by the currency exchange company's analysts were distinguished from forecasts circling the globe. The company overtook such recognized brands as Wells Fargo and Raiffeisen.
In the fourth quarter of 2016, the dollar became more expensive by around 0.40 PLN against the zloty. - This was caused by the general increase of the American currency's value on the global market. The dollar started to record gains after the US election. Donald Trump's victory, and the Republicans remaining in the majority in both Congressional houses, made the economic plans of the President-elect plausible - explained Marcin Lipka, Cinkciarz senior analyst.
Expanding on what is mentioned above, investors started to gradually price the possibility of tax reduction for companies and households, the reduction of the regulations for the companies and the public investments in infrastructure. Setting these initiatives into motion on one hand increases chances for the faster economic growth in the future, but on the other creates risk of the economy overheating.
Accurate forecasts for the dollar and the zloty are not the only winning pairs on the podium for Cinkciarz. First place was also awarded to the company's currency experts for the predictions of the euro and the Ukrainian hryvnia pairing. Moreover, the company placed second in the ranking of the forecasts for the following currency pairs: the US dollar and Chilean peso, and the US dollar and Peruvian sol.
The online currency exchange company was also awarded third place for the forecasts of the US dollar and Korean won pairing, as well as the summary ranking of Latin American currencies.
Cinkciarz is a leading online currency exchange company and one of the fastest developing fintechs in Europe. The company leverages its proprietary technology alongside artificial intelligence systems in order to offer comprehensive electronic money transfers.