Banco de México

The Bank of Mexico (Spanish: Banco de México), abbreviated BdeM or Banxico, is Mexico's central bank, monetary authority and lender of last resort. The Bank of Mexico is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency. The Bank of Mexico was created on 1 September 1925. In July 1931, the Monetary Law was constituted. On December 15, 2009, Agustín Carstens was confirmed by the Senate as the new Governor of the Bank of Mexico with 81 votes in favor and 19 votes against. He is due to take office on 1 January 2010.