The measures adopted by the Central Reserve Bank will allow Peru to inject S/.572 million (about US$184 million) into its financial system, accumulating a total of S/.12.7 billion since June 2013, when domestic currency reserves started to fall.
The issuing entity decided to reduce the minimum legal reserve requirement and the reserve requirement in domestic currency to 8%, action that will come into force since March this year.
It also agreed to reduce from 1.5% to 1% the minimum requirement of deposits in current accounts companies hold with BCR.
“Measures will enable to inject some S/.572 million (about US$184 million),” BCR stated.
On the other hand, BCR increased the marginal reserves from 60% to 70% in order to promote de-dollarization of deposits.
The Bank also set a maximum amount for the medium reserve requirement in foreign currency of 60%.
(END) JJN/JJN/RMB
Published: 2/26/2015