BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Bank of the Republic Colombia Bank of the Republic Colombia The Bank of the Republic (Spanish: Banco de la República) is the state-run central bank of the Republic of Colombia. Its main functions are detailed by the Congress according to the Ley 31 de 1992. One of them is the issuance of the Colombian currency, the peso. The Bank was also given the responsibility of establishing the discount rate and intervening to control interest rates. The head office of the Bank of the Republic are located in Bogotá.   The Board of Directors was created by the same law, with ten members from private and public sectors of the economy with the power to enforce regulatory and monetary controls. Its role as a banker for banks includes:    Acting as a State Bank;    Controlling the issue of the currency, the Colombian peso;    Receiving foreign credits and make loans to the Government and private banks;    Managing the financial policy of the country;    Regulating the exchange rate between the peso and other currencies; and    Collaborate with the Government in setting monetary policy and exchange aiming to achieve and maintain price stability. In achieving the functions as mentioned above, the Bank commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff.   Bank of the Republic Colombia HQ Address: Carrera 7 No. 14-78, Bogotá D.C. Colombia Telephone: +571 343 1111 Facsimile: +571 286 1686 Website: www.banrep.gov.co Swift Code: BREPCOBB Currency: Colombian Peso Banking Hours: Mon - Fri : 0800 - 1500   The Board was also given the responsibility of establishing the discount rate and intervening to control interest rates. Beside their primary roles in the Colombian economy, the Bank of The Republic has control over two important institutions in Colombian culture: The Gold Museum and The Luis Ángel Arango Library. DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved