What types of payment systems do central banks typically manage?

Central banks play a crucial role in the stability and efficiency of a country's payment systems. They typically manage both high-value and low-value payment systems to ensure that all types of transactions can be processed smoothly across the economy.

High-value payment systems are designed for large transactions, often between banks or financial institutions. These systems are crucial for settling interbank payments and typically involve large sums of money. On the other hand, low-value payment systems handle smaller everyday transactions, like retail payments made by consumers at point-of-sale terminals or through online commerce. By managing both types, central banks can facilitate a comprehensive infrastructure that supports various economic activities.

This dual management helps to maintain overall economic stability and trust in both the financial system and the currency itself. Therefore, the correct answer encompasses the role of central banks in overseeing a broad spectrum of payment systems necessary for a functioning economy.