Central Reserve Bank of El Salvador explained

Bank Name In Local:	Banco Central de Reserva de El Salvador
Image 2:	File:Fachada del banco central de reserva.JPG
Image Title 2:	Facade of the bank in San Salvador
Ownership:	100% state ownership^[1]
Reserves:	US$3.57 billion (2017)^[2]
President:	Douglas Rodríguez Fuentes
Headquarters:	San Salvador
Bank Of:	El Salvador
Currency:	none^1
Footnotes:	^1Since 2001, with the dollarization of the Salvadoran economy, the Central Reserve Bank of El Salvador no longer has an independent monetary policy.

The Central Reserve Bank of El Salvador (Spanish: Banco Central de El Salvador) is the central bank of El Salvador, which controls the currency rate and regulates certain economic activities within El Salvador. The bank was originally privately owned, but was brought under state control through The Law on the Reorganization of Central Banking.

It was in charge of issuing Salvadoran colón coins and banknotes until the Monetary Integration Law of 2000 started the process of dollarizing the Salvadoran economy. In 2001, it stopped issuing new colón currency and no longer maintains a monetary policy of its own.

The bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.^[3] In 2013, the bank made a joint Maya Declaration Commitment^[4] with the Superintendencia del Sistema Financiero of El Salvador to carry out a series of concrete and measurable actions.^[5]

Presidents

• Luis Alfaro Durán, 1934–1954
• Carlos J. Canessa, 1954–1961
• Manuel López Harrison, 1961
• Francisco Aquino, 1961–1966
• Guillermo Hidalgo Qüehl, 1966–1967
• Abelardo Torres, 1967
• Alfonso Moisés Beatriz, 1967–1971
• Edgardo Suárez Contreras, 1971–1975
• Guillermo Hidalgo Qüehl, 1975–1977
• Víctor Hugo Hurtarte, 1978–1979
• Pedro Abelardo Delgado, 1980–1981
• Alberto Benítez Bonilla, 1981–1987
• Maurice Choussy Rusconi, 1987–1988
• Mauricio Antonio Gallardo, 1988–1989^[6]
• Roberto Orellana Milla, 1989–1998
• Gino Rolando Bettaglio, 1998–1999
• Rafael Barraza, 1999–2002
• Luz María de Portillo, 2002–2009
• Carlos Gerardo Acevedo, 2009–2013
• Marta Evelyn de Rivera, 2013–2014
• Oscar Cabrera Melgar, 2014–2019
• Carlos Federico Paredes, 2019
• Nicolás Alfredo Martínez, 2019–2020^[7]
• Douglas Rodríguez Fuentes, 2020–

See also

• Economy of El Salvador
• Ministry of Finance (El Salvador)
• List of central banks

External links

• Official site of Banco Central de Reserva de El Salvador

Notes and References

1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek. 2017. PDF.
2. Web site: El Salvador. 19 October 2021.
3. Web site: AFI members . AFI Global . 2011-10-10 . 2012-02-17 . dead . https://web.archive.org/web/20120220141606/http://www.afi-global.org/about-afi/members . 2012-02-20 .
4. Web site: Maya Declaration: Commitment made by Banco Central de Reserva de El Salvador and the Superintendencia del Sistema Financiero | AFI Global | Bringing smart policies to life . 2013-10-30 . dead . https://web.archive.org/web/20131101042644/http://www.afi-global.org/library/publications/maya-declaration-commitment-made-banco-central-de-reserva-de-el-salvador-and . 2013-11-01 .
5. Web site: Maya Declaration : The AFI network commitment to financial inclusion Joint Commitment made by the Banco Central de Reserva de El Salvador and the Superintendencia del Sistema Financiero. Afi-global.org. 16 October 2017.
6. Book: Central Banking Directory. 18 April 1993. Central Banking Publications. 9780951790311. Google Books.
7. Web site: Banco Central de Reserva - Galeria Presidentes . www.bcr.gob.sv . Banco Central de Reserva . 21 September 2021 . 8 July 2023 . 21 September 2021 . https://web.archive.org/web/20210921111847/https://www.bcr.gob.sv/esp/index.php?option=com_content&view=article&id=93&Itemid=237 . bot: unknown .