The Transnistrian Republican Bank (; or , ; ) or Pridnestrovian Republican Bank is the
central bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
of
Transnistria
Transnistria, officially known as the Pridnestrovian Moldavian Republic and locally as Pridnestrovie, is a Landlocked country, landlocked Transnistria conflict#International recognition of Transnistria, breakaway state internationally recogn ...
. It issues its own currency, the
Transnistrian ruble
The Transnistrian ruble (alternatively rubla or rouble; , ; ; ) is the currency of the internationally unrecognized state of Transnistria. It is divided into 100 kopecks.
Since Transnistria is a polity with International recognition of Transnist ...
, and also a series of memorial gold and silver coins, among them ''
The Outstanding People of Pridnestrovie''.
History
The Transnistrian Republican Bank has largely been held afloat by economic intervention from
Russia
Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...
who is the only state that has provided financial assistance to Transnistria, however, since 2014, Russian aid has steadily declined forcing the Transnistrian Republican Bank to rely further on domestic and
Moldova
Moldova, officially the Republic of Moldova, is a Landlocked country, landlocked country in Eastern Europe, with an area of and population of 2.42 million. Moldova is bordered by Romania to the west and Ukraine to the north, east, and south. ...
n financial institutions, investments and credit.
In October 2006, the bank inaugurated a new headquarters of a size of in
Tiraspol
Tiraspol (, ; also /; , ; , ) is the capital and largest city of Transnistria, a breakaway state of Moldova, where it is the third-largest city. The city is located on the eastern bank of the Dniester River. Tiraspol is a regional hub of cul ...
.
New headquarters for Europe's newest Central Bank
As part of the 5+2 format
5 (five) is a number, numeral and digit. It is the natural number, and cardinal number, following 4 and preceding 6, and is a prime number.
Humans, and many other animals, have 5 digits on their limbs.
Mathematics
5 is a Fermat pri ...
Moldovan officials had the opportunity to begin an integration of the Transnistrian economy into a union with Moldova which would have seen a joint bank, currency, and custom's union between the two, however, the presence of the Operational Group of Russian Forces prevented any meaningful dialogues and the talks of integration ended with the Russian invasion of Ukraine
On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thou ...
.European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...
through Moldova, allowing new talks for economic integration as Transnistria declared a “a regime of economic emergency” which has seen the bank implement a new series of fiscal reform as Transnistrian authorities move towards more austere spending, namely by increasing taxes to reduce the amount of Transnistrian Rubles in circulation to reduce inflation rates, however, due to the slashing of foreign credit entering the bank these policies are unlikely to succeed with out Moldovan support. Moldovan authorities have hinted they are willing to legalize the use of VISA or Mastercard payments to the Transnistrian Republican Bank, which they have blocked since Transnistria declared independence.
Chairmen of the Pridnestrovian Republican Bank
* Vyatcheslav Zagryadsky (22 December 1992 – 1995)
* Vitaly Kanysh, ''acting'' (1995)
* Vladimir Borisov, ''acting ''(1995–1997)
* Oleg Natakhin (1997 – 13 April 1998)
* Eduard Kosovsky (13 April 1998 – 2005)
* Aleksei Melnik, ''acting'' (2005)
* Eduard Kosovsky (2005 – 16 July 2007)
* Aleksei Melnik, ''acting'' (16 July 2007 – 23 April 2008)
* Oxana Ionova (23 April 2008 – 30 December 2011)
* Olga Radulova, ''acting'' (30 December 2011 – 1 February 2012)
* Eduard Kosovsky (1 February 2012 – December 2016)
* Vladislav Tidva (December 2016–present
See also
* List of central banks
This is a list of central banks.
Central banks by alphabetical order
This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*).
Major central banks by currency allocation p ...
References
External links
Transnistrian Republican Bank
{{Transnistria topics
Economy of Transnistria
Central banks