Poland’s reserve assets in November 2025

NBP data: At the end of November 2025, Poland’s official reserve assets, managed by Narodowy Bank Polski, stood at EUR 229.1bn, or USD 265.0bn in US dollar terms.

On 5 December 2025, Narodowy Bank Polski released the monthly data on the country’s official reserve asset holdings. According to the release, these holdings expressed in euro terms amounted to EUR 229.1bn as at the end of November 2025, i.e. EUR 1.1bn more than at the end of October 2025. In US dollar terms, the reserve holdings increased by USD 1.1bn, reaching the level of USD 265.0bn.

When investing in foreign exchange reserves, Narodowy Bank Polski is primarily guided by the criteria of their safety and level of liquidity. Only after meeting these requirements does NBP strive to maximise the long-term return on the assets. NBP invests the foreign exchange reserves in typical instruments used by central banks. The bulk of the reserves are invested in Treasury securities, which are characterised by the highest degree of safety and liquidity. NBP also invests in non-government debt securities as well as investment fund units thus achieving a diversified exposure on the global equity market. A small part of the reserves are held in the form of short-term deposits at banks with a high credit standing.