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.
Turkish President Recep Tayyip Erdogan received a warm welcome from his Polish peer Andrzej Duda on October 17, as Warsaw said it supported Ankara’s formally ongoing bid to become a member of the ... more
Poland will skip no touchy topics in talks with President Recep Tayyip Erdogan, visiting Warsaw on October 17, the office of President Andrzej Duda said ahead of the visit by the Turkish leader, ... more
The Polish anti-monopoly body UOKiK has cleared the state-controlled power conglomerate PGE to take over the Polish assets of French peer EDF on condition that power from one acquired ... more