Between 1927 and 2000, the Central Bank was in charge of issuing sucre coins and banknotes, but this function ceased after the adoption of the US dollar as the country's legal currency on January 9, 2000.

On February 4, 1976, the Central Bank adopted the Golden Sun of the La Tolita culture from the northern coastal region of Ecuador as its logo.

Luis Napoleon Dillon, Minister of Finance at the time and one of the main figures of the revolution, is considered the first to promote the creation of an Ecuadorian central bank.

On October 18 of that year, Ayora ordered authorized banks to issue currency to deliver to the Central Fund certain amounts of gold and silver, which in total represented 10,600,000 sucres.

The creation of the central bank was in response to the need for reforms to strengthen and organize the country's financial and monetary system, considering the difficulties of the time such as unsupported issuance of currency, price increases, speculation, and credit and payment imbalances.

Finally, on August 10, 1927, the central bank opened in the building of the Compañía de Crédito Agrícola e Industrial, on the corner of García Moreno and Bolívar streets, in the Historic Center of Quito.

Later, on November 23, the bank moved to a new building acquired from Banco Pichincha, located at the intersection of Garcia Moreno and Sucre streets, where it remained until 1968.

The then-manager of the Central Bank of Ecuador, Guillermo Pérez Chiriboga, called Robert Triffin, an expert from the Federal Reserve System of the United States.

In addition, the Central Bank was authorized to grant loans to the State and the productive sector, as well as to promote an accounting system that allowed it to assume the new functions.

On May 7, 1992, the Monetary Regime and State Bank Law was approved, enabling the BCE to intervene in the financial system through open market operations.

Among the first actions taken by the institution under the new legal framework was the agreement reached between the BCE and the Ministry of Economy and Finance (MEF), signed on June 30, 2021, whereby the BCE would return to the MEF the shares it held in public banks (Corporación Financiera Nacional (CFN), BanEcuador and Corporación Nacional de Finanzas Populares (Conafips)).

The current members of the Monetary Policy and Regulation Board are: Tatiana Rodríguez Cerón, Paulina Garzón Alvear and Wilson Pérez Oviedo.

Vision: To be an institution of high technical capacity, a reference in digital transformation and recognized for its integrity, transparency and service vocation.

For this reason, in November 2020, the BCE obtained ISO 37001 certification for the implementation of an anti-bribery management system (ABMS), for the purpose of prohibiting, preventing, detecting, and punishing acts of bribery.

[33] The ABMS operates through three BCE departments: ISO 37001 certification strengthens organizational culture and enables process-based management for continuous improvement, elaboration of procedures, mitigation, and contingency plans.

International reserves are the economic resources available to the country to support payments abroad that must be made by the state, companies, or individuals through financial institutions.

International reserves are mainly composed of oil and non-oil exports, deposits of coins and bills made by banks in the BCE's vaults, and disbursements received by the country from multilateral organizations.