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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 |
The Central Bank of Aruba (Papiamento : Banco Central di Aruba, Dutch : Centrale Bank van Aruba) is the central bank in Aruba responsible for implementation of monetary policy of the Aruban 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 the Kingdom of the Netherlands. Prior to this period, Aruba formed part of the Netherlands Antilles under jurisdiction of the Bank 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 the Netherlands 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.
Aruba, officially the Country of Aruba, is a constituent country within the Kingdom of the Netherlands, in the southern Caribbean Sea 29 kilometres (18 mi) north of the Venezuelan peninsula of Paraguaná and 80 kilometres (50 mi) northwest of Curaçao. In 1986, it became a constituent country within the Kingdom of the Netherlands and acquired the formal name the Country of Aruba.
The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore and Salboni. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
The Hong Kong Monetary Authority (HKMA) is the central banking institution of Hong Kong. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary.
The Central Bank of Jordan is the central bank of Jordan whose main duties include the release and distribution of the Jordanian currency and the maintenance of a national reserve of gold and foreign currencies. The bank also maintains and insures the safety of the banking environment in Jordan.
In macroeconomics, an open market operation (OMO) is an activity by a central bank to exchange liquidity in its currency with a bank or a group of banks. The central bank can either transact government bonds and other financial assets in the open market or enter into a repurchase agreement or secured lending transaction with a commercial bank. The latter option, often preferred by central banks, involves them making fixed period deposits at commercial banks with the security of eligible assets as collateral.
The Central Bank of the Republic of Türkiye (CBRT) is the central bank of Turkey. Its responsibilities include conducting monetary and exchange rate policy, managing international reserves of Turkey, as well as printing and issuing banknotes, and establishing, maintaining and regulating payment systems in the country.
Foreign exchange reserves are cash and other reserve assets such as gold and silver held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. Reserves are held in one or more reserve currencies, nowadays mostly the United States dollar and to a lesser extent the euro.
The Bank of Korea is the central bank of South Korea and issuer of South Korean won. It was established on 12 June 1950 in Seoul, South Korea.
The Czech National Bank, is the central bank and financial market supervisor in the Czech Republic, headquartered in Prague. It is a member of the European System of Central Banks. It was established on 1 January 1993 from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the National Bank of Slovakia.
The Netherlands Antillean guilder is the currency of Curaçao and Sint Maarten, which until 2010 formed the Netherlands Antilles along with Bonaire, Saba, and Sint Eustatius. It is subdivided into 100 cents. The guilder was replaced on 1 January 2011 on the islands of Bonaire, Saba and Sint Eustatius by the United States dollar.
The florin or Aruban guilder is the currency of Aruba. It is subdivided into 100 cents. The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par. The Aruba currency exchange rate for U.S. dollars is Afl. 1.77 for cash and Afl. 1.78 for traveller's checks. Most supermarkets and gas stations use the exchange rate of Afl. 1.75, while many restaurants and shops use the exchange rate of Afl. 1.80.
The Reserve Bank of Fiji is the central bank of the Pacific island country of Fiji. Its responsibilities include the issue of currency, control of the money supply, currency exchange, monetary stability, promotion of sound finances, and fostering economic development.
The Central Bank of the Dominican Republic was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the country's monetary and banking system. The Bank's headquarters is in Santo Domingo, and its current governor is Héctor Valdez Albizu.
The Central Bank of Suriname (CBvS) is Suriname’s highest monetary authority and the country’s governing body in monetary and economic affairs.
The Central Bank of Curaçao and Sint Maarten is the central bank for the Netherlands Antillean guilder and administers the monetary policy of Curaçao and Sint Maarten. The bank dates to 1828 making it the oldest surviving central bank in the Americas.
The Central Bank of Trinidad and Tobago is the central bank of Trinidad and Tobago.
The Netherlands Antilles was an autonomous Caribbean country within the Kingdom of the Netherlands. It was dissolved on 10 October 2010.
The governor of Aruba is the representative on Aruba of the Dutch monarch. The governor's duties are twofold; he represents and guards the general interests of the Kingdom of the Netherlands and is head of the Aruban government. He is accountable to the government of the kingdom. As the head of the Aruban government, the governor is inviolable; the ministers are responsible. The governor does not have political responsibilities and is not part of the Aruban cabinet. During the formation of a cabinet, the governor plays an important role. The governor is appointed by the monarch for a period of six years. This period can be prolonged for one more term of six years. The governor is supported and advised by the Council of Advice, consisting of at least five members, appointed by the governor, advising him on the drafts of state ordinances, state decrees, kingdom acts and general administrative orders.
The following outline is provided as an overview of and introduction to Aruba:
Jeanette Semeleer is an Aruban economist who has been the president of the Central Bank of Aruba since 2008.
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