Greater exchange rate flexibility warranted in Peru – IMF

Limiting interventions would help reduce dollarisation further, says fund

Javier Prado Avenue and Limas Highway - Lima - Peru - Getty.jpg
Lima, Peru

The International Monetary Fund says the Central Bank of Peru could allow greater exchange rate flexibility as dollarisation continues to decline.

In a statement published on December 3, fund staff say allowing the exchange rate to move would help absorb the effects of external shocks and foster financial development.

“With loan dollarisation now at 39% for firms and 10% for households, greater exchange rate flexibility would carry lower risks,” says the IMF.

The fund notes interventions in

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