São Paulo – Savings withdrawals exceeded deposits by BRL 3.264 billion in October in Brazil, the worst result for the month since records started being kept, in 1995. According to the federal government news outlet Agência Brasil, the Brazilian Central Bank reported this Friday that year-to-date, withdrawals in excess of deposits reached USD 57 billion.
In October, BRL 154.4 billion were withdrawn and BRL 151.3 billion were deposited. By the end of the month, total savings amounted to BRL 644.8 billion. At the end of 2014, they stood at BRL 662.7 billion. Withdrawals were higher than deposits in every month of this year.
*Translated by Gabriel Pomerancblum
