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27 August 2010
PERU: Central Bank Raises Reserve Requirements On Foreign Deposits.
BLOOMBERG/ The Banco Central de Reserva raised the marginal reserve requirement for foreign banks to 120% of their short-term sol deposits, up from the current 65%. Experts believe the new terms will slow the SOL's appreciation. "It’s not going to reverse the SOL’s trend but may cause it to stabilize,” said one observer. The SOL gained 3.2% so far in 2010, the seventh-best performance among 25 emerging market currencies.