New Incentive to Save in Pesos

In order to promote retail saving, the BCRA decided to increase the yields of retail time deposits up to ARS1 million, 87% of the benchmark rate of the monetary policy as form August 1, 2020.

Thus, yields of retail time deposits in pesos will be 33.06% APR, which equals a 2.75% monthly rate and a 38.47% EAR.

July 30, 2020.