Challenging Times For The BCRP

Like many of the currencies BMI covers in Latin America, Peru's nuevo sol has fallen victim to the latest spike in global risk aversion, as capital is leaving the country. Although Peru's financial markets remains relatively illiquid compared to the likes of Brazil, Mexico and Chile, we note that Peru is running its first current account deficit in some five years, increasingly exposing the sol to upticks in global financial market volatility.

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