Luxembourg's central bank opened its doors to the general public this Saturday. Visitors were able to learn more about the BCL's duties and missions.
The Central Bank of Luxembourg (BCL) is still a relatively young institution that was founded 21 years ago, only one year before the Euro was adopted in the European Monetary Union.
Even though the central bank generally operates discretely, it nevertheless managed to be accepted and to gain popularity with Luxembourg's inhabitants. The only direct contact that the bank has with citizens is through collectors who purchase rare coins and other collector's items directly from BCL.
This changed on Saturday as it was open day at the bank's head office on Boulevard Royal. The general public had the opportunity to learn more about the BCL's functions.
Among other things, Luxembourg's Central Bank is responsible for the bank notes that circulate in the Grand Duchy. One of the bank's main missions in this context is for example to check the circulating banknotes and to replace the damaged ones. Banknotes of older series are withdrawn from circulation and destroyed. BCL currently boasts 400 employees.