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07/11/2017 - 19:08hs

Net savings withdrawals at USD 607 million

October saw withdrawals outpace deposits as numbers swing to a deficit following five months’ worth of surpluses.

Brasília – Savings withdrawals outpaced deposits by BRL 2 billion (USD 607 million) in October, the Brazilian Central Bank reported on Tuesday (7). After deposits exceeding withdrawals for five months on end, the numbers swung last month.

From January through April, withdrawals were higher than deposits, whereas from May to September the opposite was the case. The October deficit was the third biggest to date this year, trailing January at BRL 10.735 billion (USD 3.261 billion) and March BRL 4.996 billion (USD 1.517 billion).

In the 12 months through October, savings yields reached 7.32%, exceeding the Extended Consumer Price Index (IPCA-15), an inflation preview index, whose rate was 2.71% during that same period.

*Tradução de Gabriel Pomerancblum

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