A couple of charts that show Peru Central Bank's efforts to stop its Nuevo Sol (PEN) from appreciating

Here are all the Central Bank interventions in the forex market since August 1st 2011, which each bar showing the date and the amount of dollars Peru's Central Bank (the BCRP) bought to try and stop its currency from appreciating too much on the Forex market. Data from here

And if that's a tad difficult to read, here's the same info crunched down into monthlies for the last six months (and we still have six bank days left in January 2012, so the billion is still in the cards).

And here's how the forex has looked in the last 12 months:

The BCRP last week came out with its projection for the currency in 2012 and called its exit at S/2.66 to the dollar, to which we say NoShitSherlock. In fact, we're probably looking at something under 2.60 by this time next year, with or without the Cenbank's strategy of letting things down gently.