Central Reserve Bank of El Salvador

Central Reserve Bank of El Salvador
Banco Central de Reserva de El Salvador
Facade of the bank in San Salvador
Facade of the bank in San Salvador
HeadquartersSan Salvador
Established19 June 1934; 90 years ago (1934-06-19)
Ownership100% state ownership[1]
PresidentDouglas Rodríguez Fuentes
Central bank ofEl Salvador
Currencynone1
ReservesIncreaseUS$3.57 billion (2017)[2]
Websitewww.bcr.gob.sv
1Since 2001, with the dollarization of the Salvadoran economy, the Central Reserve Bank of El Salvador no longer has an independent monetary policy.

The Central Reserve Bank of El Salvador (Spanish: Banco Central de El Salvador) is the central bank of El Salvador, which controls the currency rate and regulates certain economic activities within El Salvador. The bank was originally privately owned, but was brought under state control through The Law on the Reorganization of Central Banking.

It was in charge of issuing Salvadoran colón coins and banknotes until the Monetary Integration Law of 2000 started the process of dollarizing the Salvadoran economy. In 2001, it stopped issuing new colón currency and no longer maintains a monetary policy of its own.

The bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.[3] In 2013, the bank made a joint Maya Declaration Commitment[4] with the Superintendencia del Sistema Financiero of El Salvador to carry out a series of concrete and measurable actions.[5]

  1. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "El Salvador". 19 October 2021.
  3. ^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-17.
  4. ^ "Maya Declaration: Commitment made by Banco Central de Reserva de El Salvador and the Superintendencia del Sistema Financiero | AFI Global | Bringing smart policies to life". Archived from the original on 2013-11-01. Retrieved 2013-10-30.
  5. ^ "Maya Declaration : The AFI network commitment to financial inclusion Joint Commitment made by the Banco Central de Reserva de El Salvador and the Superintendencia del Sistema Financiero" (PDF). Afi-global.org. Retrieved 16 October 2017.