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Wednesday, February 28, 2024

Gold purchases by the National Bank of Poland. Adam Glapiński provides the data

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In 2023, we continued gold purchases and increased our resources by 130 tons, said the President of NBP, Adam Glapiński, on Wednesday at a press conference. He added that gold currently constitutes about 13 percent of foreign exchange reserves.

– In 2023, we continued gold purchases and increased our resources by 130 tons. This is 30 tons more than I found in the NBP treasury seven years ago, Glapiński said on Wednesday.

He added that gold purchases are made “when there is an opportunity, at favorable prices.”

– We have 360 ​​tons of gold, which corresponds to approximately 13 percent. foreign exchange reserves – said the president of the National Bank of Poland.

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Glapiński announces further purchases

He also announced further purchases of gold for the NBP’s foreign exchange reserves.

– I recommended to the management board, and the management board decided, that we should aim for a situation in which gold will constitute approximately 20 percent. foreign exchange reserves – said Adam Glapiński. – Rich countries, safe countries, have about 20 percent. foreign exchange reserves in gold and we should also have that much, he added.

At the end of December last year official reserve assets managed by the National Bank of Poland amounted to EUR 175.4 billion, or 193.8 billion translated into US dollars.

Main photo source: Shutterstock



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