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Peru central bank again cuts reserve requirements for dollar deposits

Banco Central de Reserva del Perú said it will cut reserve requirements for U.S. dollar deposits to 39% from 40%, effective January 2018.

The central bank expects the move to help inject about $192 million into Peru's financial system over the next 12 months, with around $113 million of that amount becoming available immediately as soon as the cut takes effect.

In a statement, the central bank noted that it has been reducing reserve requirements gradually through 2017 in order to allow greater flexibility in local lending amid tighter monetary policy in the U.S.

The bank lowered reserve requirements for dollar deposits to 40% from 41% in October.