Polish zloty's surge may lead to central bank loss of EUR 7 bln in 2025
The strengthening of Poland's currency rate may contribute to a loss of PLN 30 billion (EUR 7.03 bln) for the country's central bank NBP, in 2025, according to a statement released by the body.
"The strengthening of the zloty against foreign currencies (in particular the US dollar) observed this year may contribute to Poland's central bank NBP recording a negative financial result for 2025 (exceeding even PLN 30 billion if foreign exchange rates remained at the level of the end of June this year)," Poland's central bank said on Friday.
The NBP pointed out that the zloty gaining value does not translate to a change in the size of the bank's official reserve assets, which totalled over USD 255 billion at the end of July 2025, of which the value of monetary gold accounted for almost USD 55 billion.
"However, the appreciation of the zloty results in a decrease in the value of reserve assets converted into zlotys, which, in accordance with Eurosystem accounting rules, reduces the central bank's financial result at the end of the year," the statement read. "At the same time, the strong increase in the price of gold this year should limit the impact of the negative valuation of foreign currencies on the NBP's capital."
The National Bank of Poland notes that forecasting its financial result is subject to considerable uncertainty and depends on factors over which the central bank has no direct influence.(PAP)
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