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15.03.2021, 14:00

Poland's central bank wants to buy 100 tonnes of gold - governor

Reuters reports that governor of the National Bank of Poland (NBP) Adam Glapinski said that Poland's central bank wants to buy at least 100 tonnes of gold -- worth some $5.5 billion at current prices -- over the coming years, as it continues to expand its bullion reserves.

"At the moment, we have 229 tonnes of gold, of which more or less half was bought during my term in office," Glapinski told.

"Over the course of a few years we want to buy at least another 100 tonnes of gold and keep it in Poland as well," he said.

Over the last decade central banks, particularly in Eastern Europe, the Middle East and Asia, have stepped up purchases of gold, often seeing it as a way to reduce reliance on assets such as the U.S. dollar.

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