The National Bank of Poland (NBP) started to invest in New Zealand’s currency (NZD) in 2013 in an attempt to broaden its diversification of foreign currencies, according to NBP's report. At the same time, it limited the share of assets in GBP by 3pps last year.
The main currencies used by NBP are: USD, EUR, GBP, AUD, NOK. The central bank stressed that it continues to invest the major part of Poland's foreign FX reserves in sovereign securities of countries with the highest ratings and highest levels of liquidity.
Its portfolio primarily includes securities issued by international institutions and government agencies, with a small part located in deposits at banks with high ratings and in US corporate bonds.
All in all, 86.0% of FX reserves were invested in sovereign securities in 2013 vs. 86.2% a year before.
The rate of return on FX reserves - calculated in PLN - amounted to minus 3.2% in 2013, which NBP attributed to the zloty's appreciation against all the currencies, except the euro.
Polish protests against the government's judiciary reforms continued for a sixth day on July 23, as crowds sought to add to pressure on President Andrzej Duda to veto the controversial bills that ... more
Senior Czech judges on July 21 denounced Poland's judicial overhaul as an attack on the rule of law. With big street protests in the Czech Republic's neighbour seemingly gathering momentum – 120 ... more
Unipetrol looks to have finally got over the August 2015 fire and explosion that wrecked its steam cracker, an indispensable installation in the production of ethylene feedstock needed to manufacture ... more