Peru's net international reserves stood at US$ 63.33 billion in the week ended Oct. 14, with an amount of foreign currency remaining high and equivalent to more than 19 months of imports, reported the country's Central Reserve Bank (BCR).
It should be noted Peru's foreign-exchange reserves went up to US$65,66 billion by the end of 2013.
The BCR said that the current level of international reserves accounts for over 32 percent of the country's gross domestic product.
It also covers more than 19 months of imports and is equivalent to six times the short-term external debt, and according to the central bank, these levels are higher than those of other economies in the region.
Meanwhile, the foreign exchange position of the BCRP was US$ 39.99 billion at October 14, 2014.
The BCR also reported that the country risk indicator, measured by the EMBIG Peru spread, fell from 170 to 180 basis points from September 7-14.
On the other hand, the EMBIG Latin America spread rose 20 basis points amid concerns about the world’s economic growth, after the International Monetary Fund (IMF) cut the 2015 global growth forecast to 3.8 percent.
(END) JJN/JJN/RMB
Published: 10/19/2014