National Bank of Moldova (NBM) was established under Presidential Decree of the Republic of Moldova on June 4, 1991. The primary objective of the National Bank of Moldova is to achieve and maintain price stability. The basic attributions of the Bank are as follows: - to formulate and to promote the state monetary and foreign exchange policy; - to act as banker and fiscal agent of the state; - to license, supervise and regulate the activity of financial institutions; - to supervise the payment system of the Republic of Moldova and to facilitate the efficient functioning of the interbank payment system; - to issue the domestic currency; - to establish, through consultations with the Government, the foreign exchange regime of the national currency; - to manage foreign exchange reserves of the state; - to settle the balance of payments of the country; - to carry out the foreign exchange regulation on the territory of the Republic of Moldova, etc.