ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Bureau of Engraving and Printing produces United States currency notes, operates as the nation’s central bank, and serves to ensure that adequate amounts of currency and coin are in circulation.

Detailed explanation-2: -Olijar. Len Olijar became the Director of the Bureau of Engraving and Printing (BEP) in 2015, after serving as BEP’s Deputy Director for three years. He has worked at BEP for more than 30 years in positions of increasing responsibility. The mission of BEP is to develop and produce U.S. currency, trusted worldwide.

Detailed explanation-3: -Since 1862, BEP been entrusted with the mission of manufacturing the nation’s currency. All U.S. currency is printed at our facility in Washington, D.C. and at our facility in Fort Worth, Texas.

Detailed explanation-4: -U.S currency is produced by the Bureau of Engraving and Printing and U.S. coins are produced by the U.S. Mint. Both organizations are bureaus of the U.S. Department of the Treasury.

Detailed explanation-5: -The Bureau of Engraving and Printing had its foundations in 1862 with workers signing, separating, and trimming sheets of Demand Notes in the Treasury building. Gradually, more and more work, including engraving and printing, was entrusted to the organization.