The Central Reserve Bank of Peru has changed its approach in intervening to buy US dollars, aiming make it less of a one-way bet against the dollar. The central back has purchased about $10 billion so far this year, with varying amounts in each trading session depending on the appreciation pressures on the sol. The central bank will now buy a fixed amount whether the dollar is appreciating or depreciating against the sol. The aim in part is to add some uncertainty for those taking out dollar-denominated loans for things like cars or houses, trying to ensure that there is no excessive taking of debt in dollars that could hurt borrowers who earn in soles should the dollar appreciate sharply against the sol.
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