FX reserves still in excess of EUR 74 billion
NBP data: In August Poland’s foreign exchange reserves continued to stand at a high level. Gold reserves held by the NBP increased markedly.
According to the data on foreign exchange reserves as at the end of August, released by the NBP on 7 September, the Polish central bank holds reserves of EUR 74.077 billion. Although the euro denominated figure is lower than a month ago (when it stood at EUR 74.7 billion), FX reserves as translated into USD increased on the July figure up to USD 107 billion; the value of reserves expressed in PLN surged even higher, reaching an unprecedented level of PLN 307 billion (as compared to PLN 299.8 billion recorded at the end of July). Those changes are primarily the effect of exchange rate fluctuations.
The NBP invests an overwhelming part of its reserves in safe securities, keeping some of them in gold. Recently, the amount of gold held by the NBP increased markedly from EUR 3.740 billion as at the end of July to EUR 4.183 billion at the end of August. Gold reserves account for 5.6% of the total reserves.
Amount of official reserve assets of the NBP - August 2011
Reserve money and its counterparts - August 2011