The Central Bank of the Dominican Republic (CBDR) is the issuer of banknotes and coins of legal tender. It ensures price stability and guarantees the regulation of the financial system. It promotes the efficiency and security of the payment systems, acting as executor of monetary, exchange and financial policies, to contribute to the stability and growth of the national economy.
For 74 years, the Central Bank of the Dominican Republic (CBDR) has been working to contribute to the strengthening of the Dominican economy. More than seven decades of arduous, rigorous work, aimed at promoting the growth and stability necessary to achieve the progress and welfare of Dominicans. A history of efforts and achievements led by a disciplined, highly trained staff, inspired by the mystique of excellence and fully identified with the institutional mission. A history of advances in methodology, technology, processes and regulations. A history of contributions to culture, research, economic and financial education. A history of solidarity, responsibility and commitment.
Created on October 9, 1947, the Central Bank of the Dominican Republic is a decentralized and autonomous entity governed by the Monetary and Financial Law 183-02, with the Monetary Board as its superior body. The CBDR works on the basis of four-year strategic plans, with their corresponding operational plans, which allow it to fulfill its objectives, strategies and actions in the indicated time and with the available resources.
The Central Bank performs, among others, the following functions: Execute monetary and exchange policies, in accordance with the Monetary Program approved by the Monetary Board; issue banknotes and coins; compile, prepare and publish balance of payments, monetary sector, real sector and financial sector statistics; manage the country’s international reserves; carry out the supervision and settlement of the payment systems; and regulate the national financial system.
As a result of its tenacious work, the Central Bank has made six major contributions in the last decade: The implementation of an inflation targeting scheme as an instrument of monetary policy, which establishes quantitative inflation targets for a specific time horizon; the implementation of a Real Time Gross Settlement (RTGS) system, which minimizes interbank transactions; having been selected as the managing bank for the payment interconnection system of Central America and the Caribbean; the implementation of the Electronic Foreign Exchange Trading Platform to make the foreign exchange market more efficient; and the implementation of the Cybersecurity Incident Response Center, which allows us to respond quickly and efficiently to any possible cyber attack on the financial and payment system.