Arménská centrální banka

The thesis of the Armenian Central Bank deals with a summary of how the central banks operate in general and especially focuses on system functioning in Armenian Central Bank. The thesis starts with a theoretical interpretation of the characteristics of central banking functions and central banks. A substantial part of my work is about Armenian Central Bank. It focuses on the history of the Armenian Central Bank since the beginning of the 1920s to the present. There is monitoring of the development of the bank within one century, when the economy changed from centrally planned to market oriented and thus changed the central banking system and functions of the Armenian banking system. Following the history of the Armenian financial system, in this thesis I go into depth of the system of the Central Bank of Armenia with its all positives and negatives. Furthermore I engage in monetary policy, which is concentrated mainly on cooperation between the central bank and commercial banks, and the activities between these institutions. Last but not least part is about coordination of monetary and fiscal policies. As far as foreign relations in the banking areas are concerned, in the next chapters I explain the foreign exchange policy conducted by central banks, and management of international reserves. In conclusion, the main part of my work deals with the national currency of Armenia and its historical evolution to the current period. The conclusuion of my work summarizes all the knowledge that I gained in the course of my study, from literary resources and personal experience. I refer to all these aspects in this thesis of mine. In this part the thesis stresses the importance of central banks in the national and multinational area and its integration into the international trust. It depicts the achivements and areas that need to be improved over the period of the Armenian Central Bank existence.