About Central Bank of the Russian Federation
In 1860, the Emperor of Russia Alexander II signed a decree to establish the State Bank. This was the beginning of the history of the Bank of Russia. Initially, the State Bank was mainly engaged in short-term commercial lending. However, historical developments changed everything. In the 1920s, the bank was a key actor in the restoration of the country’s financial system and the development of exchange relationships. During the hardships of World War I and the Great Patriotic War, it focused on covering military expenditures and the supply of the army and households with money. In the Soviet Union, the State Bank was a lender for the centrally planned economy, issued money and carried out international settlements. In the challenging 1990s, the bank did its best to keep the economy stable and created the system of foreign exchange regulation and control. Following traditions and extensively introducing innovations, today the Bank of Russia is a technologically advanced mega-regulator responsible for the stability of the entire financial system of the country… Continue reading about Central Bank of the Russian Federation here.