According to figures from the Central Bank, These private sector placements accumulate in the year, up to last April 6, a nominal increase of 44.1%, reaching a stock of almost $236,000 million (it was less than $164,000 million at the end of 2021).
In a context where the interest rate of traditional fixed terms, remains below inflation -around 3.6% per month, beyond the three increases that the BCRA has defined in recent months-, together with the exchange summer observed in the market since the end of January after the agreement with the IMF -which also deflated devaluation expectations-, UVA time deposits have not stopped growing in recent months in the face of the incessant search by savers to safeguard the purchasing power of their pesos, in the face of soaring inflation.
In the middle of last month, INDEC reported that prices had increased 4.7% in February, the highest figure since March 2021, with which investments indexed to inflation became even more attractive, while traditional fixed terms were slowing down their growth.
In fact, so far this year these 30-day placements show an expansion of 21.2%, less than half the growth of UVA time deposits.
It is worth remembering that today the minimum guaranteed rate for placements of individuals for up to an amount of $10 million is 53.3% per annum in effective terms, a figure that exceeds the latest year-on-year inflation data but is behind the expected inflation for 2022, which is already close to 60% from the February and March jumps (inflation was estimated at close to 6% for the last month).
UVA Fixed Term
UVA fixed terms are contracted for a 90 day minimum and they allow obtaining a return above inflation, according to the rate offered by the entities. There is the option of pre-canceling them before 90 days, after 30 days, but a lower rate is received than that of a traditional fixed term.
Traditional Fixed Term
This product is contracted for a minimum period of 30 days and has a guaranteed minimum rate, established by the BCRA for retail savers.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
