Polish central bank to raise gold reserves to 700 tonnes
The National Bank of Poland (NBP) has approved a plan to increase its gold reserves to 700 tonnes, which will put the country among the world's top ten gold reserve holders, the central bank's governor has announced.
"The National Bank of Poland has decided to further increase its gold reserves to 700 tonnes," Adam Glapinski said, as cited in NBP's Tuesday press release. "This will place Poland among... the top ten countries with the largest gold reserves in the world."
Glapinski had announced the ambitious plan at a conference following the January Monetary Policy Council meeting last week. He then said that at the end of 2025, NBP held about 550 tonnes of gold worth roughly USD 76.5 billion and declared he would ask the central bank's governing board to approve an increase of Poland's gold reserves to 700 tonnes.
In 2025, the NBP purchased more than 100 tonnes of gold, making it the largest net buyer among central banks last year, Glapinski also said at the time.
The current amount makes the Polish central bank the 12th largest holder of gold reserves in the world, according to the NBP. (PAP)
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