What We Do

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Promoter of Scientific, Social and Cultural Development

 

Monetary Policy: the Inflation Targeting Strategy in Colombia

The objective of monetary policy in Colombia is to maintain a low and stable inflation rate and to attain a maximum sustainable level of output and employment. In this way, monetary policy fulfils the Constitutional mandate to maintain the purchasing power of the peso and contribute to improve...

Issue of Legal Tender

The currency-issuing attribute, characteristic of the Nation’s monetary sovereignty, is exclusive to the Banco de la República and can not be delegated. This attribute has materialised by means of various contracts, with the authorisation of Congress.

Government Banker, Fiscal Agent and Trustee

 

The Banco de la República fulfils these duties by receiving funds in deposit from the Nation and public entities under the conditions established by the Board of Directors. Furthermore, the Banco de la República may act as fiscal agent in the negotiation of external and internal credits...

Foreign Exchange Intervention Policy

Banco de la República's policy strategy seeks to maintain a low and stable inflation rate, as well as to achieve output levels close to the economy’s potential. The Bank's policy also contributes to preserve the stability of the financial and payment systems. Flexibility of the exchange rate is...

Banker of banks

 

As with any central bank, the Banco de la República plays the role of banker of banks. On one hand, it is the depository of the money allocated in fulfilment of the bank reserve requirements, which serve to regulate the credit-issuing capacity of the banking system. This reserve,...

Administration of International Reserves

 

It is the Banco de la República’s responsibility to administer the country’s international reserves, including management, investment, safekeeping and disposal of reserve assets. Investment takes place principally by following the criteria of security and liquidity with the aim of...