Brasília – Savings account withdrawals exceeded deposits in Brazil for the tenth straight month. Net withdrawals reached BRL 2.712 billion (USD 838 million at today’s exchange rate) in October, the Brazilian Central Bank reported this Monday (7). Year-to-date through October 2016, net withdrawals reached BRL 53.251 billion (USD 16.455 billion), which is close to the amount registered in all of last year (BRL 53.567 billion, or USD 16.553 billion).
Savings account withdrawals amounted to BRL 165.524 billion (USD 51.150 billion) in October, and BRL 1.631 trillion (USD 504 billion) year-to-date through October, higher than last year’s BRL 162.812 billion (USD 50.312 billion) and BRL 1.578 trillion (USD 475.2 billion). Savings earnings amounted to a combined BRL 4.062 billion (USD 1.255 billion) last month. Total savings in Brazil stood at BRL 644.340 billion (USD 199.113 billion) in October.
*Translated by Gabriel Pomerancblum
