Banco Central de Reserva del Peru
| Headquarters | Lima , Peru |
| founding | March 9, 1922 |
| country | Peru |
| currency | |
| ISO 4217 | PEN |
| Currency reserves | US $ 66.775 billion (November 2019) |
| Website | |
| List of central banks | |
The Banco Central de Reserva del Peru (BCRP) is the central bank of Peru with its headquarters in Lima . She has the right to issue the Peruvian sol . The bank was founded under the name Banco de Reserva del Peru on March 9, 1922. On April 28, 1931, it became the central bank on the recommendation of economics professor Edwin Kemmerer of Princeton University .
The Statute and Organization Law of the BCRP (Law No. 26123) Central Bank of Peru is regulated by the Political Constitution of 1993. In particular, the institution must fulfill two essential aspects: currency stability and political independence.
The constitution states that the purpose of the central bank is to maintain price stability . The central bank's annual inflation target is 2.0 percent, with a tolerance of one percentage point up and down; their policies are aimed at achieving this goal.
The Constitution also assigns the following functions to the central bank: regulating the currency and credit of the financial system, managing the foreign exchange reserves entrusted to it , issuing banknotes and coins, and regularly reporting to the public on national finances.
history
The bank has seen two major currency reforms in its history. On January 1, 1985, the Inti replaced the Sol de Oro, which had been in effect since 1863, at an exchange rate of 1: 1000. On January 1, 1991, the highly inflationary Inti was finally replaced by the Nuevo Sol (only called Sol since 2015).
See also
Individual evidence
- ^ Peru Foreign Exchange Reserves . tradingeconomics.com Accessed November 24, 2019 (English)
- ↑ About the BCRP. Retrieved December 18, 2019 .