The overall result of these movements is that the total amount of private time deposits amounts to an average of over 56,800 million USD.
Partial data of Central Bank of the Argentine Republic (Central bank) Deposits in the banking system at the end of the third week of January show a very dynamic rise in pessose term deposits from the private sector as a whole.
The rate is close to 10% compared to the average for a similar period in December: inflation has increased almost fourfold, he says iProfesional,
So far, it seems that this is a natural phenomenon against such an interest rate, in a scenario in which the exchange rate not only stabilizes, but even decreases, encourages depositors to position themselves in these alternatives. investments.
"After the dollar is smooth, the high levels of pesos become attractive"
However, we must bear in mind that in the election years the pressure on dollarisation is very strong, so analysts advise not to stop holding dollar positions as a hedge against any currency leaps.
– BCRA (@BancoCentral_AR) January 25, 2019
Although the monetary authority went out to buy up to $ 390 million so far this month, the dollar remains below the zone without interference.
During this period private dollar deposits also rose, averaging $ 29,545 million in three weeks. This is a record value that exceeds by more than 4% the average level of the same period in December, he stresses iProfesional,
The overall result of these movements is that the total amount of private time deposits – in pesos and dollars in savings accounts and also over a longer period of time – amounts to an average of just over $ 56,800 million for 3 $ 700 million in just 30 days.
In the first three weeks of January, the total amount of deposits of private individuals in pesos and total dollars increased by the equivalent of 3 700 million,