Most of these restrictions were adopted in the 1970s, when investors from oil-producing countries were looking for places to invest their petro-dollars and began buying shares in German companies. Although these restrictions limit the power of any large blockholder, including banks, the restrictions rarely apply to the proxy votes that banks may cast on behalf of dispersed shareholders.
In addition, in terms of the Real Effective Exchange Rate over the past eight years, the peso has largely maintained its competitiveness against a basket of currencies of our major trading partners and competitor countries. In the meantime, we have been able to keep the Gross International Reserves at comfortable levels.