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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 primary objective of the Bank is to promote domestic price stability. The other objectives of the Bank are -
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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Q3 2011
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Q4 2011
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Q1 2012
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Q2 2012
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Actual
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Target
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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 17.05.12
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Target
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1,727
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1,757
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1,699
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1,765
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1,750
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1,810
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1,948
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1,800
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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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Q3 2011
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Q4 2011
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Q1 2012
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Q2 2012
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Actual
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Target
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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 17.05.12
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Target
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| Gross Int' Reserves |
241
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-
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254
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-
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261
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-
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258
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-
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| Net Int' Reserves |
204
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203
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217
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199
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221
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202
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218
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220
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