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Welcome to the official website of the Central Bank of Seychelles
Since
its creation in 1978, the Seychelles Monetary Authority and, as of 1983
its successor the Central Bank of Seychelles (CBS), have undergone
various stages of adaptation with the aim of turning it into a modern
and efficient institution, equipped to discharge its responsibilities
with professionalism and efficiency. The Central Bank of Seychelles
Act, 2004 provides for the Bank to operate as an autonomous
institution, reinforcing its status as the authority responsible for
all monetary issues in the country and caters for the further
development of the financial sector within the new economic
environment. The main objectives of the Central Bank are:
The CBS
also advises the Government on banking, monetary and financial matters
and in particular on the monetary implications of proposed fiscal
policies or operations of the Government.
The
aim of this site is to share information about the Central Bank’s role
in the domestic economy, the instruments used to achieve its objectives
as well as the results of its operations on the domestic market. This
site provides access to the Bank’s publications, monetary policy, banking sector regulations, insurance business regulations and so on. Furthermore, it contains a library of legal documents governing the financial sector and the establishment and operation of the banking industry in
Seychelles
.
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Monetary
management is based on a monetary targeting framework with reserve
money as the operating target of monetary policy. Reserve money
consists of currency in circulation and commercial bank's deposits held
at the Central Bank. Quarterly targets of reserve money are set so as
to achieve a desired path for monetary growth.
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CBS Reserve Money Position (SCR million)
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Q1 2010
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Q2 2010
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Q3 2010
|
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Actual
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Target
|
Actual
|
Target
|
as at 02.09.10
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Target
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|
1,424
|
1,537
|
1,544
|
1,592
|
1,677
|
1,676
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In addition, the Central Bank has quarterly targets of Net International Reserves as shown in the table below:
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CBS External Reserves Position - US$ million
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Q1 2010
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Q2 2010
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Q3 2010
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Actual
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Target
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Actual
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Target
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as at 01.09.10
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Target
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| Gross Int' Reserves |
226
|
-
|
182
|
-
|
197
|
-
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| Net Int' Reserves |
189
|
133
|
162
|
128
|
172
|
142
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