The Reserve Bank of Peru was created on March 9, 1922. On April 28, 1931, it became the Central Reserve Bank of Peru (BCRP), following the recommendation of Professor Edwin Kemmerer.

The Constitution of Peru establishes two fundamental aspects of monetary policy: central bank autonomy, as stated in the BCRP Charter, and the Bank's unique mission of preserving monetary stability.

According to the Constitution of Peru, the BCRP's duties are:

• regulate the amount of money,
• manage international reserves,
• issue notes and coins, and
• inform periodically on the nation's finances.