during a ceremony held at the Palace of Justice in Lima on Thursday.
The protocol ceremony was attended by Supreme Court Judges Victor Prado Saldarriaga and Aldo Figueroa Navarro, among other magistrates, as well as BCR officials.
Under Article 14 of the BCR's Organic Law, the chairman (governor), directors, and general manager of said institution take their oath before the Supreme Court of Justice.
Subsequently, Tello and Velarde signed the minutes book, a record in which solemn events and decisions adopted are documented, such as the aforementioned swearing-in ceremony.
The Senate of the Republic ratified Velarde as Chairman of the Board of the Central Reserve Bank of Peru.
He was appointed to the position through Supreme Resolution No. 258-2026-PCM, published on August 21, 2026.
The Constitution establishes that the BCR must preserve monetary stability. Therefore, one of its functions is to regulate currency and credit in the financial system.
It also performs other tasks, such as managing international reserves, issuing banknotes and coins, and periodically reporting on national finances.
Velarde has served as Chairman of the Board of the BCR since October 2006.
In October 2021, he was ratified to continue serving as Chairman of the BCR Board for a fourth consecutive term, through 2026.
(END) NDP/ETA/CCR/MVB