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Posted on: May 1st, 2008
Filed Under: [ Business ] [ Non-US News ] [ Blogante Business ]
Tags: Peru
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In recent weeks, after years of trailing the dollar, the sol has become the dominant currency of bank deposits in Peru. The sol now makes up nearly 52 percent of all deposits, up from 39 percent a year ago.
“There is more confidence in the sol right now,” said Campos, who two months ago switched his personal bank accounts from dollars into soles.
The accelerating trend marks a welcome change for the government, which has been trying to de-dollarize the economy for years, sometimes with limited success.”*
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