Peru’s banking regulator has imposed a limit on the size of holdings of U.S. dollar-denominated forwards, The Wall Street Journal reports. The Office of the Superintendent of Banking, Insurance and Private Pension Funds, signed a legal regulation limiting the forward holdings to a net 40% of a company’s assets, or $144 million. The companies will have 90 days to comply with the new regulation. The central bank also sold new securities and bought almost $9 billion in the foreign exchange market to temper gains in the local currency, adds Bloomberg.
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