answersLogoWhite

0


Best Answer

A central bank, reserve bank, or monetary authority is a public institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the nation'smonetary base, and usually also prints the national currency, which usually serves as the nation's legal tender.

The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference.

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on 3 July 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP took over from the Central Bank of Philippines, which was established on 3 January 1949, as the country's central monetary authority. The BSP enjoys fiscal and administrative autonomy from the National Government in the pursuit of its mandated responsibilities.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why bangko sentral ng pilipinas conrtol the money?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is Bangko sentral ng pilipinas?

The Bangko Sentral ng Pilpinas is the central bank of the Republic of the Philippines. It is the country's central money authority. The BSP main objective is maintaining price stability in the country.


How does the bangko sentral ng pilipinas control the supply of the money?

They control it for the Philippines...that is what the central banks of each country do...and they co-operate with each other too. Who should?


Function of bangko sentral ng pilipinas?

Setting monetary policy. Printing and Issuing Money. Acting as the Government's Bank. Maintaining Foreign Exchange Reserves. Regulating Financial Institutions. Managing the Exchange Rate.


Are there possibilities of corruption in Bangko Sentral ng Pilipinas?

Without a doubt.Yes. BSP is a private banking institution, their loyalty is not to the Filipino people but to the company and profits. As a private firm, their goal is to make money. They Inflate prices by devaluing the Peso by printing more than needed. They borrow money from IMF and put the burden on the Filipino people to pay for the interest rates. They are modeled after the Bank of England and The Federal Reserve of the U.S.A.


How much is 100 republika ng pilipinas worth in India money?

20epublika ng pilipinas


How much is 20 republika ng pilipinas paper money woth in American money?

How much is 20 republika ng pilipinas paper money woth in American money?In: http://wiki.answers.com/Q/FAQ/4423[Recategorize] [Special:Movepage]How much is 20 republika ng pilipinas paper money woth in American money?In: http://wiki.answers.com/Q/FAQ/4423[Recategorize] [Special:Movepage]


Can you still change Turkish lira to Philippine peso?

Of course. Mas maganda kung sa money changer magpapalit kesa sa bangko.


What is the role of the banco central of the Philippines in the Philippines' economy?

Basically Banko Sentral watches for the peso exchange rate and is the main money maker bank of the country.


How much is the 20 of republika ng pilipinas worth Indian money?

1095


How much is a republika ng pilipinas 20 piso worth in American money?

23.50


How much is a republika ng pilipinas 5 piso worth in American money?

One dollar


Monetary system of the Philippines?

You should rephrase your question to make it specific. If you were meaning the currency I would say it is the Philippine peso. If you meant something else, you should have thought about your question first. One thing us teachers teach in Primary and Secondary schools is to always proof-read everything.