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 ARS1 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 will become effective on November 13, 2020.
