Banco Central del Uruguay

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Banco Central del Uruguay
Headquarters Montevideo , Uruguay
founding July 6, 1967
country Uruguay
currency

Uruguayan peso

ISO 4217 UYU
Currency reserves US $ 14.4 billion (November 2019)
Website

www.bcu.gub.uy

List of central banks

The Banco Central del Uruguay (BCU) is the central bank of Uruguay . She has the right to issue the Uruguayan peso .

history

The Central Bank of Uruguay was founded on July 6, 1967 with the passage of Article 196 of the Constitution of Uruguay as an autonomous state authority (Spanish: Ente Autónomo). Before the founding of the BCU, the department of the Banco de la República Oriental del Uruguay was responsible for issuing currencies and managing and monitoring the banking system. Uruguay is one of the countries in South America that introduced an official central bank relatively late.

On March 30, 1995, a new Banking Act was passed, which expanded the responsibilities of the BCU and established the administrative structure as well as the functions and responsibilities of the bank.

tasks

According to Article 7 of the BCU Charter, the bank has the following tasks:

  • Issuing of banknotes and coins and their redemption throughout the republic
  • Manage money, credit and currency exchanges in accordance with legal requirements
  • Serving as a government economic advisor, banker and financial agent
  • Manage the foreign exchange reserves of the state
  • Act as banker of all state institutions
  • Representation of the Uruguayan government in international financial organizations
  • Regulation and supervision of all financial institutions

Individual evidence

  1. ^ Uruguay Foreign Exchange Reserves . tradingeconomics.com. Accessed January 6, 2020 (English)
  2. ^ Páginas - The Foundation Process of the Central Bank of Uruguay. Retrieved January 6, 2020 .