In a statement, the central bank reported that this amount of reserves is US$564 million higher than the one recorded at the close of July 2012.

The increase in NIRs registered so far this month is mainly explained by higher deposits of both banks (US$530 million) and the public sector (US$33 million), by the higher valuation of investments (US$19 million), and by the Central Bank’s net purchases of foreign currency (US$2 million).

This increase was in part offset by the decline of deposits in the Deposit Insurance Fund (US$20 million).

The foreign exchange position of the BCRP at August 7 was US$40.36 billion. This amount is US$ 21 million higher than the one recorded at the close of July 2012.

(END) JPC/EEP