The net international reserves (RIN), which contribute to the economic and financial stability of the country, reached the figure of 58.72 billion dollars as of October 30 of this year, revealed the Central Reserve Bank (BCR).
The issuing entity indicated that this amount is greater in 812 million dollars to the balance registered at the end of September, mainly due to the increase of deposits in the BCR of the financial system in 694 million and of the public sector in 41 million dollars.
The international reserves guarantee the availability of foreign currency for extraordinary situations that could occur due to external shocks that manifest themselves in a possible significant withdrawal of deposits in foreign currency and a subsequent flight of capital from the local financial system.
An adequate availability of foreign currency contributes to the reduction of the country risk and the improvement of the credit qualifications of Peru, which results in superior conditions for obtaining credits from abroad.
They are also important in a context of globalization of international markets, reduction of barriers to capital movements and volatility in financial markets.
The level of RIN is constituted by liquid international assets, and this level is equivalent to 27% of the GDP.