Asian Central Banks
Asian central banks are financial institutions that are responsible for the monetary policy of their respective countries. They are responsible for setting interest rates, controlling the money supply, and managing the exchange rate of their currency. Central banks also provide banking services to their governments and other financial institutions. The most well-known central banks in Asia are the Bank of Japan, the People’s Bank of China, and the Reserve Bank of India.
History of Asian Central Banks
The first central bank in Asia was the Bank of Japan, which was established in 1882. The Bank of Japan was modeled after the Bank of England and was responsible for issuing the Japanese yen. The People’s Bank of China was established in 1948 and is the central bank of the People’s Republic of China. The Reserve Bank of India was established in 1935 and is the central bank of India. All three of these central banks are responsible for setting monetary policy in their respective countries.
Comparison of Asian Central Banks
| Central Bank | Country | Year Established |
|---|---|---|
| Bank of Japan | Japan | 1882 |
| People’s Bank of China | China | 1948 |
| Reserve Bank of India | India | 1935 |
Summary
Asian central banks are responsible for setting monetary policy in their respective countries. The Bank of Japan, the People’s Bank of China, and the Reserve Bank of India are the most well-known central banks in Asia. For more information about Asian central banks, visit the websites of the Bank of Japan, the People’s Bank of China, and the Reserve Bank of India.
See Also
- Monetary Policy
- Interest Rates
- Money Supply
- Exchange Rate
- Banking Services
- Bank of England
- Japanese Yen
- People’s Republic of China
- India
- Central Banks
