December 23, 2017 / 8:38 PM / 3 months ago

Peru central bank to lower reserve requirement for dollar deposits

LIMA, Dec 23 (Reuters) - Peru’s central bank will lower the reserve requirement for dollar deposits to 39 percent from 40 percent starting in January 2018 to help strengthen local lending as the U.S. Federal Reserve tightens its monetary policy, the bank said on Saturday.

The change should inject about $192 million into Peru’s financial system over the next 12 months.

Peru’s economy has slowed this year following a political scandal that linked President Pedro Pablo Kuczynski to Brazilian builder Odebrecht, which is at the center of a massive graft investigation.

Kuczynski unexpectedly thwarted a bid in Congress earlier this week aimed at forcing him from office. (Reporting by Teresa Cespedes; Writing by Dave Sherwood; Editing by Andrea Ricci)

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