NBP reserves drop in January

Poland’s Central Bank’s (NBP) reserves stood at €94.39 billion at end-January and were some €150 million lower than last month, according to the NBP's official reserve data. Reserves denominated in USD have increased by $4.3 billion to $117.59 billion. The PLN-denominated reserves stood at PLN 391.61 billion, down by PLN 2.73 billion. 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.