The Central Reserve Bank of El Salvador was established on June 19, 1934.
The objective behind the establishment of the institution was to manage the volume of credit and the requirement for currency. In addition, the Central Bank was vested with exclusive powers to issue the currency.
The Banco Central de Reserva de El Salvador is the Central Reserve Bank of El Salvador. The law requires the bank to notify the general public about its various monetary programs, the statement of operations, different fiscal reports and financial statements, thus enabling it to increase transparency. The bank, an independent institution of technical character and acting under the principles of market economy, works to achieve the following objectives:
- To consolidate and maintain the monetary stability of the economy
- To ensure the stability of the financial system
- To continuously work toward ensuring the sustainable growth of the economy and the overall well being of the population
The Banco Central de Reserva de El Salvador also acts as the financial advisor to the government providing it with economic and financial consultancy services. The bank also provides a range of other services like treasury, administration of current accounts, custody of securities, liquidity operations, local and international transfers, and administration of liabilities. The bank, as part of its functions, carries out specialized economic and fiscal surveys. The bank also participates actively in the stock market, promoting various financial services. In order to safeguard the stability of the financial system, the bank has undertaken prudent measures and regulations thereby assuring its own financial stability.
The Address and Contact details of the bank is as follows:
The Central Reserve Bank of El Salvador
Address: P.O. Box 106 Alameda Juan Pablo II 4 15 Avenida Norte San Salvador EL SALVADOR Phone No.: ++503-281-80 00 Fax: ++503-281-81 13 ; -8281