Central Bank of Argentina
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| Headquarters | Buenos Aires | ||
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| Established | 28 May 1935 | ||
| Ownership | Government of Argentina | ||
| President | Federico Sturzenegger | ||
| Central bank of | Argentina | ||
| Currency |
Argentine Peso ARS (ISO 4217) |
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| Website | http://www.bcra.gov.ar/ | ||
The Central Bank of Argentina (Spanish: Banco Central de la República Argentina, BCRA) is the central bank of Argentina.
Established by six Acts of Congress enacted on May 28, 1935, the bank replaced Argentina's Currency board, which had been in operation since 1899. Its first president was Ernesto Bosch, who served in that capacity from 1935 to 1945.
The Central Bank's headquarters on San Martín Street (in the heart of Buenos Aires' financial district, known locally as the city), was originally designed in 1872 by architects Henry Hunt and Hans Schroeder. Completed in 1876, the Italian Renaissance-inspired building initially housed the Mortgage Bank of the Province of Buenos Aires. The Central Bank's offices were transferred to an adjacent address upon its establishment, and were expanded to their present size by the purchase of the Mortgage Bank building in 1940, as well as by the construction of a twin building behind it.
Drawing from a 1933 study on Argentine finance by Bank of England director Sir Otto Niemeyer, the institution's charter was drafted by Argentine economist Raúl Prebisch; Prebisch would serve as general manager until 1943. The Central Bank was a private entity during its first decade, and British Empire interests held a majority stake; the president of the Central Bank was appointed by the president of Argentina, but 11 of its 12 directors were private bank CEOs. Pursuant to the Roca–Runciman Treaty of 1933, Central Bank reserves accrued from Argentine trade surpluses with the United Kingdom were deposited in escrow at the Bank of England, and this clause, which had led to nearly US$1 billion in inaccessible reserves (more than half the total) by 1945, prompted the BCRA's nationalization by order of Juan Perón on March 24, 1946.
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