Poland's official foreign reserves stood at $108.9 billion in December 2012, the National Bank of Poland (NBP) announced on Monday.

“Compared to the end of 2011, the reserves increased by more than $11 billion from $97.9 billion,” the NBP said in a statement.

The central bank also stressed that although it sought to achieve maximum return from its foreign reserves, the priority was their security and liquidity. It said its foreign reserves were invested in instruments usually selected by central banks, including government debt and securities issued by international institutions and government agencies.

A small proportion of the reserves were kept as deposits in highly-rated foreign banks and in gold.

Poland A.M.