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March 6, 2023
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Savings have record withdrawal for February, of R$ 11.5 billion

Savings have record withdrawal for February, of R$ 11.5 billion

The most traditional financial application for Brazilians, savings, recorded the second month in a row with more withdrawals than deposits. In February, the net withdrawal was R$ 11.515 billion, the highest in the historical series of the Central Bank (BC), started in 1995, for the month.Savings have record withdrawal for February, of R$ 11.5 billion

In January, the negative result was BRL 33.63 billion, the highest for all months of the historical series. The previous record was recorded in August last year, when account holders withdrew BRL 22.02 billion more than they deposited.

In 2022, the booklet registered a record net outflow (more withdrawals than deposits) of R$103.24 billion, in a scenario of high inflation and indebtedness.

Performance

Until recently, savings yielded 70% of the Selic Rate (basic interest rate for the economy). Since December of last year, the application started to yield the equivalent of the reference rate (TR) plus 6.17% per annum, because the Selic was once again above 8.5% per annum.

Currently, basic interest rates are at 13.75% per year, which made the financial investment stop losing to inflation for the first time since mid-2020.

In February, credited earnings totaled R$6.916 billion. The balance of all amounts deposited in savings accounts was R$968.04 billion.

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