The Bangko Sentral ng Pilipinas (BSP), or the Central Bank of the Philippines, is the country’s central monetary authority. Established on January 3, 1949, and re-established on July 3, 1993, pursuant to the New Central Bank Act of 1993, the BSP is responsible for maintaining price stability conducive to a balanced and sustainable economic growth.
Philippine Banknote 2025
Here are some key functions of the BSP:
- Monetary Policy: Managing the country’s monetary policy to ensure price stability.
- Currency Issuance: Issuing and regulating the Philippine peso.
- Financial Stability: Overseeing the stability of the financial system and promoting a sound and stable banking environment.
- Payment Systems: Ensuring the efficiency and reliability of payment systems.
- Consumer Protection: Promoting financial education and protecting consumer rights.
Would you like to know more about any specific aspect of the BSP?