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The Board of Directors of the Banco de la República was established by the National Constitution as a monetary, exchange and credit authority in order to achieve the State’s objective of maintaining currency purchasing power (article 373, subsection 1 of the National Constitution…
In order to comply fully with this assignment, the Board of Directors was authorised to study and adopt measures that regulate the monetary base and the liquidity of the financial market, as well as to ensure the normal functioning of internal and external payments of the economy…
"Article 16. Atributions. It corresponds to Banco de la República to study and adopt the monetary, credit and exchange measures to regulate monetary circulation and, in general, the liquidity of the financial market and the normal functioning of the internal and external payments…
