Together with the lowering of the reference rate to 80% and the release of the minimum rate offered by the banks fixed-term deposits traditional, the Central Bank implemented last Monday another change which went unnoticed.
The entity reduced from 180 to 90 days (i.e. from 6 to 3 months) the duration of the mandatory stay in the pre-cancellable UVA fixed term, which are tied to inflation plus a little interest. This was one of the stellar investments after inflation reached 25% in December, which reassured savers a much higher profit than the traditional fixed term and dollar.
Given the very high demand for these instruments after the December devaluation (it went from 240,111 million dollars at the end of November to 423,372 in December), the banks first decided to increase the amounts of investments and then asked the Central Bank to put some sort of brake.
Therefore, on 28 December, the stay period was increased through communication A7929 from the Central Bank. Now, through the A 7978 standard, it is ensured that for deposits of UVA Purchasing Value Units the minimum term is 90 days.
Source: Clarin
