Andina

Peru: Net International Reserves total US$68.097 bn on Oct 29

00:00 | Lima, Nov. 4.

Peru's net international reserves, which help the country preserve economic and financial stability, amounted to US$68.097 billion on October 29, the Central Reserve Bank (BCR) has reported.

This level of reserves is equivalent to 30% of the country's gross domestic product (GDP).

International reserves guarantee the foreign currency availability in unusual situations that might occur due to external shocks resulting in eventual and possible withdrawals of foreign currency deposits and a subsequent capital flight from the financial system.

Also, adequate availability of foreign exchange reserves helps reduce the country-risk with the subsequent improvement of the country credit ratings and better conditions to expand foreign investment in the country.

International reserves are particularly important in a context of globalization of international markets, reduction of barriers to capital flows and volatility of financial, foreign exchange and metal markets.

Peru's Net International Reserves totaled US$69.554 bn on Oct 23.

(END) MVB

Published: 11/4/2019
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