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 Office of the Centrale Bank van Aruba | |
| Headquarters | Havenstraat 2,Oranjestad, Aruba |
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| Established | 1 January 1986 |
| Ownership | 100%state ownership[1] |
| President | Jeanette R Semeleer |
| Central bank of | Aruba |
| Currency | Aruban florin |
| Reserves | 710 million USD[1] |
| Website | www |
TheCentral Bank of Aruba (Papiamento:Banco Central di Aruba,Dutch:Centrale Bank van Aruba) is thecentral bank inAruba responsible for implementation of monetary policy of theAruban florin.
The Centrale Bank van Aruba (the Bank) started its operations on January 1, 1986, when Aruba obtained its status as an autonomous country within theKingdom of the Netherlands. Prior to this period, Aruba formed part of theNetherlands Antilles under jurisdiction of theBank of the Netherlands Antilles.
The bank is a legal entity in itself (sui generis) with an autonomous position within Aruba's public sector. With the inception of the bank, the Aruban florin was brought into circulation at the same rate as theNetherlands Antillean guilder, pegged to the U.S. dollar at a rate of Afl. 1.79 (= 1 NAf.) = US$1.00. This exchange rate has remained unchanged since then.
The principle tasks of the bank are to maintain the internal and external value of the florin and to promote the soundness and integrity of the financial system.
The Central Bank of Aruba is currently led by its president Mrs. Jeanette R Semeleer.
The principal tasks of the bank, as stipulated in the Central Bank Ordinance (A.B. 1991 No. GT 32), are to:
Conduct monetary policy;Supervise the financial system;Issue bank notes;Issue coins on behalf of the government;Act as the banker for the government;Be the central foreign exchange bank and, as such, to regulate the flow of payments to and from other countries; and to advise the Minister of Finance on financial matters.
The bank performs these tasks through a variety of activities, which include:
Formulating and implementing monetary policy and related measures through, among other things, regulating bank credit and liquidity;
Monitoring economic and financial developments.
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