Foreign investors’ holdings of zloty-denominated treasury bonds rose in March and have risen so far in April, Deputy Finance Minister Piotr Nowak was quoted as saying by Dziennik Gazeta Prawna newspaper on Monday.

“Poland is growing much faster than the euro zone and according to most forecasts this will remain so in the future. … This means that there is potential for a strengthening of the zloty,” he said.

The deputy finance minister also said that an expected rise in U.S. interest rates may cause a rise in yields of Polish 10-year treasury bonds.

Nowak also said that foreign inflows to the Polish bond market so far this year have nearly made up for outflows last year. Nowak was also quoted as saying that the ministry had considered issuing bonds denominated in the Australian dollar, but decided that the price was not satisfactory for now.

“We are interested in Asian markets. The situation is changing very quickly. What now seems difficult may after some time be within our reach,” Nowak said referring to possible foreign bond issuance plans.

He also said the ministry forecasts that holdings of zloty-denominated bonds by local commercial banks will not grow in 2017 as quickly as they did last year.