The Bank of Guyana was established in the year 1965 with an objective of promoting domestic price stability of the country. The Bank of Guyana is the central bank of Guyana. The logo of the bank represents the industries of timber, rice, shipbuilding and minerals.
Objectives of Bank of Guyana
The primary objective of the Bank of Guyana is to devise and enforce monetary policy of the country. Monetary policy will help to maintain the price stability of the country. The bank also targets to promote a sound, effective financial system of the country and thus maintain a sustained, non-inflationary growth of the economy.
Some of the other major tasks of the Bank of Guyana include maintaining the integrity and value of the currency of Guyana, ensuring payment arrangements and monitoring the financial system of the country.
Basic activities of the Bank of Guyana
The basic activities of the bank include retail banking, sales of commemorative coins and domestic cash exchange.
Functions of the Bank of Guyana
One of the major functions of the Bank of Guyana include offering advice to the Government on economic management to keep away from inconsistencies among several governmental policy measures. Some other significant functions of the bank are:
To provide advice on policy instruments like interest rates, exchange rates and money supply
To supervising the operation of the financial system and promoting it’s development accordingly
To oversee the foreign exchange reserves of the country within the context of national policy
To oversee internal and external public debt
To issue country’s legal tender and coordinate with government agencies for facilitating global trade
To develop skillfulness in the field of management of financial establishment
To develop a system for collection, analysis and processing of data
Monday to Thursday: from 8:00 hrs to 12:00 hrs.
Address of Bank of Guyana
Post Office Box Bank of Guyana
P.O. Box 1003
1, Church Street & Avenue of the Republic
Last Updated on : 25th June 2013