Poland’s official reserve assets s at EUR bn. 74.7
NBP data: At the end of July 2011, the official reserve assets managed by the NBP had risen by 4.6% on the level recorded a year before and by 47.2% on that of July 2009.
On 5 August 2011, the National Bank of Poland published data on reserve money and its counterparts and on the official reserve assets held as at the end of July. Poland’s reserve assets, expressed in terms of the common European currency, amounted to EUR 74.724 bn. This represents a decrease of a few hundred million euros on last month’s figure. Such slight fluctuations in the value of the reserve assets, resulting, among others, from changes in the exchange rates, have no bearing on the fact that Poland’s level of reserve assets remains high. There has been a particularly fast expansion in these assets for the past two years. In July this year, they were 4.6% higher than a year before and 47.2% higher than in the same month of 2009.
Large reserve assets contribute to the credibility of a country, prove that it is a trustworthy partner in external relations and that the central bank holds an adequate resource of foreign exchange to protect the value of the domestic currency if need be.
Competent management of official reserve assets is one of the key tasks of the National Bank of Poland. The strategy adopted by the NBP in this area assumes investing the reserve assets in an increasingly diversified range of financial instruments. While this is done in order to maximize yield, the top priority is always given to the security of the assets and the maintenance of the requisite level of their liquidity.
Amount of official reserve assets of the NBP - July 2011
Reserve money and its counterparts - July 2011