National Bank of Poland nears 700-ton gold reserve target

The National Bank of Poland (NBP) is approaching its goal of reaching 700 tons of gold in its foreign exchange reserves. As of the end of September 2026, the bank held approximately 673 tons of gold, following an increase of 24.9 tons in September alone. Total gold reserves have grown by 122.7 tons since the beginning of the year.

NBP President Adam Glapiński has noted that maintaining large gold reserves strengthens economic credibility and provides stability for the Polish economy, particularly given the conflict on Poland's eastern border. Gold holdings have seen significant increases in recent years, with substantial purchases recorded in 2023, 2024, and 2025.

In related economic data for September 2026, the NBP reported that the M3 money supply rose by 49.4 billion PLN, reaching a total of 2.973 trillion PLN. This growth was driven by increases in household and corporate deposits, as well as a rise in cash in circulation to 500.8 billion PLN. Debt levels also saw increases across various sectors, including central government and financial institutions.