Poland: NBP to Stabilize FX Reserves

Politics ♦ Published: April 3, 2014; 19:50 ♦ (Vindobona)

The Supreme Audit Chamber NIK in Poland called upon the National Bank in Poland (NBP) not to increase in foreign-exchange (FX) reserves but stabilize its level.

The NBP is required to stabilize the level for FX reserves. / Picture: © Vindobona.org

According to a report by the Supreme Audit Chamber, the maintenance of foreign-exchange reserves was very costly. The report points out that the NBP did a good job of managing the FX reserves in the years from 2009 to 2013. However, the central bank is now required to stabilize the level of reserves to minimize the risk of overliquidity in the banking sector.

"In order to…