On this day: The Central Bank of the Russian Federation was established

The Central Bank of Russia was founded on July 13, 1990.

It is Russia’s central bank and implements, together with the Russian government, a single monetary policy. According to the constitution, it is an independent entity, with the primary responsibility of protecting the stability of the national currency: The ruble.

Vladimir Putin's economic adviser from 2012 to 2013, Elvira Nabiullina, is a head of the Central Bank today.

Read more: 8 most convenient online services from Russian banks

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