National Bank of Romania

Website: www.bnro.ro

The NATIONAL BANK OF ROMANIA (NBR), established in 1880, is the country's central bank. The National Bank of Romania is an independent public institution with its headquarters in Bucharest . It is the sole institution vested with the power to issue notes and coins to be used as legal tender on the territory of Romania.

The domestic currency is the leu , with its fractional coin, the ban. The National Bank of Romania's primary objective is to ensure and maintain price stability. The main tasks of the National Bank of Romania are the following:

• To define and implement the monetary policy and the exchange rate policy
• To conduct the authorization, regulation and prudential supervision of credit institutions and to promote and oversee the smooth operation of the payment systems with a view to ensuring financial stability
• To issue banknotes and coins as legal tender on the territory of Romania
• To set the exchange rate regime and to supervise its observance
• To manage the official reserves of Romania .

Without prejudice to its primary objective of ensuring and maintaining price stability, the National Bank of Romania supports the general economic policy of the Government. The National Bank of Romania is solely accountable to Parliament and is on no account subordinated to Government; its relationship with the latter is co-operation on a regular basis.