Overview
- As of Tuesday, several banks cut peso 30‑day fixed‑term rates again, leaving the average nominal annual rate near 35%, down from peaks around 44% in mid‑October.
- Current peso TNAs vary by institution, with Banco Nación at 35%, ICBC at 35.3%, Provincia and Macro at 34%, BBVA and Banco Ciudad at 32%, Galicia at 31%, and Santander at 32%.
- Banks raised rates on 30‑day dollar deposits to retain hard currency, with wide dispersion: Banco Nación at 2.50% annually, Banco Galicia at 2.40%, BBVA and Patagonia at 1.25%, Banco Ciudad at 0.10%, and Santander at 0.05%.
- Banco Nación exemplifies the shift after the removal of currency controls, moving its dollar fixed‑term rate from 0.50% previously to 2.50% now.
- At a 35% TNA, a 30‑day peso deposit of 6,000,000 yields 172,602.74 in interest for a maturity total of 6,172,602.74, and deposits can be opened via home banking by selecting fixed term, entering the amount, choosing 30 days, and confirming.