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last mo.

Argentine Banks Push 30-Day Peso Deposit Rates to 39%

A scramble for deposits under tougher reserve rules reflects strain from recent peso-dollar swings

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Con las tasas de interés en alza, invertir $410.000 en un plazo fijo a 30 días puede generar una ganancia concreta y segura (Imagen ilustrativa).
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Overview

  • The BCRA raised reserve requirements on August 1 to absorb excess pesos and counter dollar pressure, prompting banks to boost 30-day fixed-term yields up to 39% TNA.
  • Digital-only platforms and promotional offers for non-clients at Cuenta DNI, Banco Hipotecario and Reba lead the market with the highest deposit rates.
  • Competition has created wide rate dispersion across institutions, with yields varying by customer segment, deposit size and distribution channel.
  • Tighter liquidity conditions have driven borrowing costs higher, sending average rates for current-account advances above 56% TNA.
  • Savers are relying on the BCRA’s daily TEM tables and individual bank simulators to track shifting yields and find the most competitive offers.