Question

Bank of England was founded in the year

• A. 1707
• B. 1688
• C. 1694
• D. 1723

Answer 1

Answer:

C. 1694

Origin and History of Central Banking:

• First Central Bank - Sveriges Riks Bank, Sweden (established in 1656 as a privately owned bank. Later, converted to a state owned bank in 1668.)
• But it was not considered as the first full fledged Central Bank of the World
• Bank of England founded in 1694 (First Central Bank issue currency notes) was recognized as the first full fledged Central Bank of the World,
• Central Bank of France - France (1800)