Colombian Monetary System

Colombian Monetary System

The Colombian Monetary System is run by the Central Bank, commonly called ¨ El Banco de la República¨. This powerful organization is in charge of the following:

1. Give out the cash.
2. Control the amount of money available. (Selling and buying OMAS)
3. Supervise the banking system.

¨El Banco de la República no forma parte de ninguna de las ramas del poder publico.¨ (Source 1). The previous quote means that the Banco de la República operates by themselves. They are not part of any public sector, which means it is corrupt free. The Banco de la República is a state entity which is autonomous of the other entities and analyzes by themselves the patterns of the Colombian economy.The Federal Reserve and the Banco de la República operate in a very similar way. Both of them have the same process in which they save a small amount of their deposit and back that amount with cash. The rest of the deposit is freed to the community in order to let the money and the economy flow.


MLA Citation
1. Quiquexxx. "Sistema Monetario Colombiano." Buenas Tareas. Buenas Tareas, Nov. 2009. Web. 04 Apr. 2014. <http://www.buenastareas.com/ensayos/Sistema-Monetario-Colombiano/62853.html>.

2. Melendez, Inocencio J. "Análisis Del Sistema Monetario En Colombia. Inocencio Meléndez Julio." Análisis Del Sistema Monetario En Colombia. Inocencio Meléndez Ju... Slide Share, 09 Mar. 2013. Web. 04 Apr. 2014. <http://www.slideshare.net/INOCENCIOMELENDEZJUL/analisis-del-sistema-monetario-en-colombia-inocencio-melendez-julio>.