Which institution is Mexico’s central bank, granted constitutional autonomy in 1993?

Mexico’s central bank, granted constitutional autonomy in 1993, is the Bank of Mexico. Known in Spanish as Banco de México, it began operations on 1 September 1925 after legislation created a national institution with the exclusive right to issue currency.

The bank’s constitutional autonomy took effect in April 1994. Its main functions include maintaining the purchasing power of the Mexican currency, promoting the sound development of the financial system, and ensuring the proper functioning of payment systems. It also issues Mexican peso banknotes and coins through its legal mandate.

The Bank of Mexico is governed by a five-member Board of Governors, consisting of a governor and four deputy governors. It should not be confused with Banco Nacional de México, commonly known as Banamex, which is a commercial bank. The central bank’s headquarters are in Mexico City.