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Peru Bonds Rise on Speculation of Increased Investment Inflows

August 01, 2012

Peru government bond yields fell the most in two weeks on expectations that Latin America’s fastest- growing economy will attract investment from abroad.

The yield on the 7.84 percent sol-denominated bond due August 2020 declined nine basis points, or 0.09 percentage point, to 4.55 percent, the biggest drop since July 13. The price rose 0.67 centimo to 121.79 centimos per sol.

Peru will post the fastest economic growth among major Latin American economies this year, expanding 5.7 percent, according to the median estimate of five analysts surveyed by Bloomberg. Annual inflation slowed to 3.28 percent in July from 4 percent a month earlier, the national statistics agency said today, adding to evidence the central bank will leave its benchmark interest rate unchanged for a 15th month.

“There’s a perception that Peru’s fundamentals remain solid and it’s an attractive investment option,” said Juan Carlos Odar, an economist at Banco de Credito del Peru (CREDITC1) in Lima. “It’s perceived as a safe haven.”

Peru’s central bank on July 12 kept the overnight lending rate unchanged at 4.25 percent.

The sol appreciated 0.1 percent to 2.6245 per U.S. dollar, according to prices from Deutsche Bank AG’s Lima unit. The central bank said it didn’t buy dollars in the spot market today. The bank’s international reserves reached a record $58 billion yesterday.

To contact the reporter on this story: Sebastian Boyd in Santiago at

To contact the editor responsible for this story: David Papadopoulos at

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