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5 years ago
Peru's central bank buys $60 million, sol ends bidding stronger
September 13, 2012 / 6:51 PM / 5 years ago

Peru's central bank buys $60 million, sol ends bidding stronger

LIMA, Sept 13 (Reuters) - Peru's central bank bought $60 million in the local spot market on Thursday but the sol currency ended bidding 0.27 percent stronger at 2.597 per dollar, the first time it's firmed to under 2.6 in more than 15 years.

The sol rallied on news of the U.S. Federal Reserve's aggressive stimulus measures that will likely boost dollar inflows to emerging economies like Peru, and as companies here continue to buy soles to pay local taxes.

The central bank has raised reserve requirements and bought more than $10 billion as the sol has strenthened 3.8 percent so far this year.

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