Which institution is the central bank of the Czech Republic and is headquartered in Prague?
Answer
Czech National Bank
The Czech National Bank is the central bank of the Czech Republic and is headquartered in Prague.
It was established on 1 January 1993, when the Czech Republic and Slovakia became separate states. The institution inherited central-bank functions from the former State Bank of Czechoslovakia and became responsible for monetary policy, banknote and coin issuance, banking supervision and financial stability in the Czech Republic.
The Czech National Bank uses the Czech koruna, or crown, rather than the euro. Its principal monetary-policy objective is price stability, and it operates as an independent public institution under Czech law.
The bank is sometimes confused with the National Bank of Slovakia, which was created at the same time for Slovakia. The two institutions share a historical predecessor but are separate national central banks with different currencies and responsibilities.