National Bank of Romania
 National Bank of Romania  (Central bank)    | |
|---|---|
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| Formation | 1880 |
| Headquarters | Bucharest |
The National Bank of Romania is the central bank of Romania and was established in April 1880. Its headquarters are located in the capital city of Bucharest.
The National Bank of Romania is responsible for the issue of the Romanian leu and as such it sets the monetary policy, holds the currency reserves and manages the exchange rate.[1]
It has experienced several dramatic changes overt the years, tied to the country's history.
In 1916, in the wake of the Central Powers' invasion, the valuables of the National Bank of Romania, together with many other valuables (the Romanian Treasure) were sent to Tsarists Moscow for safekeeping, but were never returned.
After 1945 the country changed to a socialist government. The country had an austerity in the 1980s to pay back international loans to the IMF. In 1989/1990, the Romanian revolution changed system again, and the central bank has since been increasingly tied to the European Central Bank.
Responsibilities
- Development and implementation of monetary and exchange rate policy;
- Authorization, regulation and prudential supervision of credit institutions, promotion and monitoring of the proper functioning of payment systems to ensure financial stability;
- Issuing banknotes and coins as legal means of payment on the territory of Romania;
- Establishing the foreign exchange regime and supervising its observance;
- Management of Romania's international reserves.
