March 27, 2013 / 2:26 PM / 5 years ago

Peru central bank tightens deposit rules once more

LIMA, March 27 (Reuters) - Peru’s central bank said on Wednesday it was raising deposit requirements on bank accounts denominated in dollars to curb heavy capital inflows that have pushed the local sol currency to near a 16-year high. The rules, designed to slow the pace of credit growth and encourage long-term investment instead of short-term, will take effect Monday in the fast-growing economy.

It was the eighth such move since May.

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