National Bank of Romania
Headquarters | Bucharest |
---|---|
Established | April 1880 |
Ownership | 100% state ownership[1] |
Governor | Mugur Isărescu |
Central bank of | Romania |
Currency | Romanian leu RON (ISO 4217) |
Reserves | €59.770 billion (December 2023)[2] |
Bank rate | 1.25[3] |
Website | www.bnro.ro |
The National Bank of Romania (Romanian: Banca Națională a României, BNR) is the central bank of Romania and was established in April 1880. Its headquarters are located in the capital city of Bucharest.
The National Bank of Romania is responsible for the issue of the Romanian leu and as such it sets the monetary policy, holds the currency reserves and manages the exchange rate.[4]
History
The bank's first governor was
In 1916, in the wake of the
On 28 July 1959, an armed group of six
Although the persons on trial were accused of intending to donate the money to Zionist organizations that would send Romanian Jews to Israel, the stolen sum was in lei, which at the time could not be exchanged for hard currency anywhere in the world. All these aspects, together with the numerous cases of sentences based on false accusations, have led most persons to doubt that any robbery actually took place or that those charged with the crime committed it.
Architecture
The Old BNR Palace
The head office of the National Bank of Romania with the view of Lipscani Street is one of the most imposing and massive bank edifices in Romania, nowadays a historic, art monument, and protected as such. It was erected on the former site of the inn built by Șerban Cantacuzino (1678–1688).
On 26 February 1882, architects Cassien Bernard and Albert Galleron were assigned the task to blueprint the BNR Palace. The construction of the building in the eclectic style of the late 19th century, with some neo-classical elements, proceeded between 12 July 1884 (when the foundation stone was laid) and June 1890 under the direction of the architect engineer Nicolae Cerchez assisted by architect E. Băicoianu.
The New BNR Palace
With the façade on Doamnei Street, the new wing of the BNR Palace was built during World War II, after having laid the foundation stone back in 1937.
The construction works carried on between 1942-44 under the direction of architect Ion Davidescu assisted by two other architects, Radu Dudescu and N. Crețoiu.
The building is emblematic of the neo-classical style with rationalist influences that prevailed in the
Responsibilities
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 authorisation, 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.
Gallery
See also
- Economy of Romania
- Romanian leu
- gold reserves (alongside other valuable objects) sent to Russia for safekeeping in 1916 (during World War I) which haven't yet returned (as of 2024)
- List of central banks
References
- ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ "Rezervele internaţionale – decembrie 2022" (in Romanian). bnr.ro. 3 January 2024.
- ^ "Operațiunile de piață monetară (open market)". Retrieved 17 April 2021.
- ^ "National Bank of Romania". The Free Dictionary.