It is important to note that, with the BCRA’s decision, the Monthly Effective Rate (TEM) becomes 2.92% and the annual effective rate (TEA) is, as of today, 41.19%. For their part, digital wallets currently offer returns that range between 34% and 40% TNA.
What rates do virtual wallets offer after the Central Bank change?
The change in monetary policy of the Central Bank generated an impact on the rates offered by virtual wallets. Thus, the latest surveys indicate that digital wallets offer, to date, the following returns:
- Uala: 40% TNA -remunerate up to $500,000 deposited-.
- Orange: 39% TNA -applies up to a limit of $600,000-.
- Prex: 36.6% TNA.
- Payment Market: 36.9% TNA.
- PersonalPay: 36.4% TNA.
- LetsBit: 35.02% TNA.
- Lemon Cash: 34.53% TNA.
The main virtual wallets cut their performance after the BCRA lowered the rate.
The Central Bank announcement
It should be noted that, with the BCRA’s decision, the Monthly Effective Rate (TEM) became 2.92% and the annual effective rate (TEA) was 41.19%. So, The monthly performance is around the expected inflation for October, which will be around 2.7%-2.9%according to different private estimates.
“It was something that, in some way, the market was anticipating with the investment in the peso curve. The decision is made within the framework of lower inflationary expectations. According to what the market expects in terms of inflation for the coming months, The rate that the BCRA has just set remains slightly positive and goes in the direction of continuing to accompany the convergence of variables,” declared Andrés Reschini from F2 Financial Solutions in dialogue with Scope.
How will the fixed term rates be updated?
After learning about the new provision of the BCRA, the CEO of Cocos Capital, Ariel Sbadar explained how They will adjust the paid accounts that offer the virtual wallets in light of recent changes. In his X account, Sbadar assured that “with this drop of five points, the apps are going to show you 37% but the effective yield is probably between 31% and 32%“,
On the other hand, the economist Federico Glusteinin conversation with Scopeexpanded: “Today we are in a process in which the rate remains slightly positive and accompanies the convergence of variables. Remunerated accounts will pay between 30% and 32% and possibly, fixed terms will probably go down.”
However, Glustein warned that today there is a shortage of pesos so the rate “it is likely that it will not fall too much to encourage obtaining pesos for credit”. The Lecaps They are also around 3% monthly in line with this decrease from the BCRA, “showing the endorsement of this measure by the market”,
Source: Ambito
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