Polish foreign reserves fall in December

By bne IntelliNews January 7, 2018

Poland’s international reserves contracted 2.1% m/m to PLN394.4bn (€94.5bn, $113.3bn) in December, data released by the National Bank of Poland (NBP) showed on January 5. In annual terms, Polish forex reserves fell 17.5% in the last month of 2017.

The monthly fall in December came on the back of reductions across all main segments. The monetary gold reserves fell 0.9% m/m to PLN14.9bn. SDRs fell 1.4% on the month to PLN1.49bn.

Poland’s reserve position in the IMF fell 5.3% m/m to PLN1.85bn. There was also a fall of 2.1% in the foreign exchange reserves segment to a total of PLN376.1bn. In euro and US dollars terms, the reserves also fell m/m in December.

The NBP invests foreign exchange reserves in standard instruments used by central banks. The majority of investments are in government securities, although some volumes are invested in securities issued by international institutions and government agencies. A small part of the foreign exchange reserves is held as deposits at highly rated banks abroad or in gold.

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Polish foreign reserves fall in December

Related Content

Related Content

Data

With more money in their pockets, a Belarusian middle class is emerging which is in turn driving strong growth in retail.

According to the first assessment, the country's GDP in money terms totalled BNY111bn in January-November.

The share of food spending has decreased from 55% two years ago as domestic products have replaced expensive foreign imports.

Inflation was pulled down by lower prices of food and non-alcoholic beverages.

Despite the increase in the headline figure, long-term investments are stagnating at best, with inter-company lending substituting for them.

Newsletters

Most Read

Selected articles from our premium news/views wire IntelliNews Pro

Follow Us On

Reports

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