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Central Bank of Ecuador Banco Central del Ecuador(Spanish)
Headquarters
Quito
Established
August 10, 1927; 96 years ago (1927-08-10)
Ownership
100% state ownership[1]
Key people
Guillermo Avellán Solines
Central bank of
Ecuador
Currency
None1
Reserves
8,458.7 million USD (December 2022)
Website
www.bce.fin.ec
1Previously Ecuadorian sucre (ECS) until March 2000.
The Central Bank of Ecuador (Spanish: Banco Central del Ecuador; BCE) is the central bank of the country, and an institution of the Executive Function, which has institutional, administrative, financial, and technical autonomy. It is in charge of executing the monetary policy established by the Monetary Policy and Regulation Board of Ecuador, which has been the institution's highest governing body since October 2021.
Between 1927 and 2000, the Central Bank was in charge of issuing sucre coins and banknotes, but this function ceased after the adoption of the US dollar as the country's legal currency on January 9, 2000.
Since 2000, the Central Bank's objectives are to strengthen dollarization and guarantee technical autonomy. The BCE is the administrator of the country's international reserves, which contribute to economic stability. It promotes the use of monetary payment methods and fosters monetary education. Additionally the BCE generates macroeconomic statistics and guarantees the availability of banknotes and coins in the country.
^Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
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