NBP reserves drop in July

Poland’s Central Bank’s (NBP) reserves stood at €93.6 billion at end-July and were €4.4 billion lower than last month, according to the NBP’s official reserve data published on Monday. Reserves denominated in USD have dropped by $1.9 billion to $109.8 billion.

The National Bank of Poland reminded that it manages foreign exchange reserves “while maximizing their profitability, but their priority is their safety and the maintenance of the necessary liquidity.”

The NBP invests reserves in typical instruments used by central banks. Mostly in the government securities, some of it in securities issued by international institutions and government agencies. A small amount is held in deposits with banks with a high credit rating and gold.

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