Tomebamba was a major Inca town before the Spaniards conquered it and founded Cuenca on its ruins. Before the Incas it was inhabited by the Cañaris, where it also served as a major administration center.

The museum is located in modern buildings of the Banco Central del Ecuador.

In the basement a monetary exhibitions shows the money used in the various historical epochs of the country.

Another large exhibition shows colonial and republican paintings.

The archeaological part of the museum displys metal works and pottery, thousand of years old.

This museum at the Banco Central has an in-situ site, where foundations of the old Cañari and Inca town of Tomebamba can still be seen.

Those foundations featured here outline larger former buildings, probably important ceremonial centers.

Some walls are still left and a typical Inca house was rebuilt on the grounds.

  For many people an exhibition of  ethnic groups is the highlight if the visit. A very interesting part of it is the exhibit of the culture of head shrinking, practiced by some indigenous tribes of the Amazon.