The National Bank of the Republic of Macedonia (NBRM) is the central bank of the Republic of Macedonia. The National Bank shall perform the following functions: establish and conduct the monetary policy, regulate the liquidity in the international payments, establish and conduct the Denar exchange rate policy, handle and manage the foreign exchange reserves, regulate the payment system, grant founding and operating license to a bank and a savings house and supervise the banks and savings houses, issue banknotes and coins and perform activities for the account of the central government and the government administration bodies.