BCRP Reduces Reserve Requirements In Soles

News: On December 25 2013 the Banco Central de Reserva del Perú (BCRP) announced it would lower reserve requirements on commercial banks for funds denominated in the local sol currency from January 1 2014. Under the new rules, the BCRP will reduce the average and marginal reserve requirements in soles to 14% from 15% and cut the foreign trade debt requirement to 14% from 20%. 'This new measure will allow the freeing up of more than PEN1bn (US$359mn),' the central bank said.

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Geography: Peru

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