Central Bank international reserves reached US$567.9 million in November, according to the institution. As reported in Diario Libre, the reserve level is much greater than what the IMF had requested for 2004 and 2005. The newspaper reports that gross international reserves had risen and represented US$1.01 billion last month. The letter of intent to the IMF refers to an average level of international net reserves of US$300 million for 2005 and at US$600 million for 2006. The newspaper highlights that the Central Bank has increased its reserve levels by taking advantage of the appreciation of the peso currency.