Question: Peru's total official foreign exchange reserves on January 1 2008 were equal to US$18.1 billion. From its capital and financial account data for the balance of payments for 2008, we also know that item N in Table 15.2 was equal to + US$4.7 billion and item O was equal to -US$5.2 billion. What were Peru's total official foreign exchange reserves on December 31 2008? Show your work and explain.
