Narodowy Bank Polski has completed the operation of bringing gold to Poland
Date of publication: 25-11-2019
Narodowy Bank Polski has completed the operation of relocating to Poland 100 tons of gold, which is part of NBP’s official reserve assets.
“The operation of transporting 100 tons of Polish gold has been completed and proceeded smoothly. The gold bars have been safely placed in the NBP vaults,” informed Prof. Adam Glapiński, President of Narodowy Bank Polski. “In a symbolic sense, we can say that history has come full circle and, like in the times of the Second Polish Republic, once again there is gold in the vaults of the bank of issue,” the NBP President emphasised. At the same time, he announced that the return to the tradition of storing a significant part of NBP’s gold reserves on the territory of Poland will be commemorated with the issue of a gold coin in the shape of a gold bar.
Gold in NBP’s foreign exchange reserves
NBP currently holds 228.6 tons of gold, of which 105 tons is stored at Narodowy Bank Polski. In the years 2018–2019, NBP’s gold reserves have increased by 125.7 tons (122 per cent.). As a result of these purchases, NBP has moved up the ranking of the size of gold reserves from 34th to 22nd place among central banks around the world and from 15th to 11th place in Europe, overtaking all the countries of the region. The strategic decision to purchase gold was, among others, a result of the good economic situation and the gradual growth of the reserve assets.
The gold conforms to international standards of purity and is in the form of gold bars in accordance with the London Good Delivery standard. Each gold bar was checked and registered during acceptance to the vault.
Transport of gold to Poland
The operation of transporting the gold to Poland was carried out by air. A total of eight transports were made, with each transport carrying one thousand bars. The transport of the gold was performed by an international firm specialising in the transport of valuable cargo, which was selected by way of a procurement procedure at NBP.
The whole enterprise proceeded smoothly. No events occurred that could have had an impact on the safety of the people involved or the cargo. Many people were involved in the performance of the task, representing Narodowy Bank Polski, the Polish police, the Border Guard, the airports, airport ground handling companies, and also the Bank of England, the transport firm and the British police.
Issue of a commemorative coin
In order to commemorate the return of gold to Poland, in December NBP will issue a gold collector coin in the shape of a gold bar.
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