Wednesday, 29 June 2016

Central Bank of Uruguay

The Central Bank of Uruguay (BCU) (Spanish: Banco Central del Uruguay) is the central bank of Uruguay.

The Central Bank of Uruguay was established on July 6, 1967 as an autonomous state entity (Spanish: Ente Autónomo), with the passing of the 196th article of the República Oriental del Uruguay's Constitution. Prior to the creation of the BCU, the issuing of currency and managing and supervising of the banking system was handled by the department of the Banco de la República Oriental del Uruguay.

On March 30, 1995 a bank charter was passed (Law 16696), which expanded the BCUs responsibilities and set out the management structure as well as the functions and responsibilities of the bank.

The building of the Central Bank in Ciudad Vieja, Montevideo houses the Numismatic museum, which is open to the public from 10:00 to 16:00 Monday to Friday and has free entrance.

According to the 7th article of the BCUs Charter, its responsibilities are;

Issuer of money notes and coins, as well as their withdrawal throughout the republic
Manage monetary, credit and currency exchanging as set out by law
Act as economic advisor, banker and financial agent of the Government
Administer the international reserves of the State
Be the banker of all government institutions
Represent the Uruguay government at international financial organisations

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