According to the Law on the National Bank of the Republic of Macedonia, the primary objective of the National Bank shall be to achieve and to maintain price stability.
Other objective of the Bank, subordinated to the primary objective, shall be to contribute to the maintenance of a stable, competitive and market-based financial system.
The National Bank shall support the general economic policies without jeopardizing the achievement of primary objective and in conformity with the principle of open market economy and free competition.
To achieve the set objectives, the National Bank shall:
- design and conduct the monetary policy;
- participate in the determination of the exchange rate regime;
- design and conduct the exchange rate policy;
- hold and manage foreign reserves;
- issue and manage the banknotes and coins of the Republic of Macedonia;
- record and monitor the international credit operations and prepare the balance of payments of the Republic of Macedonia;
- collect and produce statistics in pursuance of the tasks as required by the law;
- establish, promote, register and oversee sound, safe and efficient payment, settlement and clearing systems;
- regulate, license, and supervise banks, savings houses, e-money issuers and other financial institutions as further specified in this Law or any other law;
- supervise the application of regulations that govern foreign currency operations, currency exchange operations, money transfer services and anti-money laundering systems, and customer protection, as further specified in this Law or any other law;
- act as fiscal agent to the Government of the Republic of Macedonia;
- participate in international institutions and organizations concerning matters within its competence;
- organize trading and settlement of securities on the OTC markets and
- carry out any other activities related to the exercise of its tasks under the Law on the National Bank of the Republic of Macedonia or any other law.