24 de julio de 2015, 13:31Buenos Aires, Jul 24 (Prensa Latina) The Central Bank of Argentina (BCRA) announced that banking institutions are to pay as of next Monday higher interest rates to fixed term deposits, measure with which they expect to reduce speculation with the US dollar.
From July 27 onward, interest rates will rise to 26.2 percent in the case of deposits of up to 90 days and will be able to have up to a total of one million pesos, announced the head of the BCRA, Alejandro Vanoli, whose initiative is highlighted by the press today.
This is part of the measures adopted to incentivate savings in national currency that also includes a hike in rates of other accounts.
‘It deals with a measure adopted in a situation of increase in credit, but also of monetary volatility in the international and local markets, as well as rumors of devaluation that seek to be installed in the country, said Vanoli when presenting the measure last night.
In this way, the corridor of interest rates was aligned, adjusting them to the structure of the market indicators and contributed to keep deepening the financial stability, preserving the balance among factors of offer and demand of money, saikd Vanoli.
The President of the BCRA calculated there will be another additional profit of some 625 million pesos a month for the segment of physical persons or individual savers.
The measure was adopted after at the beginning of the week the black market of the so called dollar blue had rocketed, exceedingt the mark of 15 pesos per dollar, and also increased the legal buyi9ng volumen of that currency for savings.
This situation was combined with the dissemination of alerts from opposing leaders and media, at the heat of the election campaign that the government would devaluate national currency, which was denied definitely by the Executive.
Several media highlight today that the illegal dollar went back 25 cents, dropping to 14.64 per peso, while the value of national currency keeps its cool at 9.18.
The daily Pagina 12 says the parallel exchange market registered a fall of 45 cents in two daysk, almost at the same speed with which it had risen before without producing relevant economic incidents that justified it.
While the reserves of the Central Bank ended on Thursday at 33 billion 915 million dollars, two million more than on Wednesday´s closure.
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