National Bank of Romania (NBR), established in 1880, is the country's central bank. The National Bank of Romania is an independent public institution with its headquarters in Bucharest. It is the sole institution vested with the power to issue notes and coins to be used as legal tender on the territory of Romania.
The domestic currency is the leu, with its fractional coin, the ban.
Pursuant to Law No. 312/2004 on the Statute of the National Bank of Romania, the NBR's primary objective is to ensure and maintain price stability.
The main tasks of the National Bank of Romania are the following:
Without prejudice to its primary objective of ensuring and maintaining price stability, the National Bank of Romania supports the general economic policy of the Government.
By law, the National Bank of Romania is solely accountable to Parliament and is on no account subordinated to Government; its relationship with the latter is co-operation on a regular basis.
The National Bank of Romania is managed by a Board of Directors appointed by the Parliament of Romania on the recommendation of the standing committees of the two Chambers of the Parliament. Board members are appointed for a five-year tenure that can be subject to renewal.
The main tasks of the Board of Directors are to decide on the monetary and exchange rate policies, as well as on the measures for authorisation, regulation and prudential supervision of the credit institutions and oversight of the authorised payment systems.
Territorial network of the NBR comprises the headquarters and 19 branches.