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Situated in the valleys of the Lurin rivers, Rimac and Chillons, Lima is the capital of Peru. Lima ranks fifth on the magnitude scale in Latin America. The cities that are listed ahead in magnitude are Buenos Aires, Mexico City and Sao Paulo amongst others. It was a Spanish conquistador who laid the foundation of Lima in January 1535. It was recognized as the most significant city in the Spanish place of Peru. After the War of Independence in Peru, it was made the capital of the Republic of Peru. About thirty percent of the population of Peru resides in this area. Lima was once named Ichma as per the earlier Spanish sources. The name was inspired from its first dwellers. Prior to Inca occupation of the area in the 15th century, a popular oracle in the Rimac valley was known to the tourists as Limaq. The oracle was finally demolished by the Spanish with a church built in its place instead. However the name carried on whereby the chronicles show "Ychma" being replaced by "Limac" as the known name.