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The BCRA has Increased the Yield of Deposits in Pesos

The Board of the BCRA has increased to 37% APR (44% EAR) the minimum rate on 30- day deposits made by individuals for an amount under ARS 1 million, and to 34% APR (39.8% EAR) for the others.

It also raised the monetary policy interest rate to continue following the strategy of harmonizing yields on savings in pesos. Moving on this direction, the 7-day reverse repo interest rate grew by two points—to 36.5% APR—, the overnight reverse repo interest rate by one point—to 32%—and the interest rate on liquidity bills (LELIQs) by two points—to 38%. The new interest rates become effective on November 13, 2020.

November 12, 2020.

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