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2mo ago

Argentine Banks Slash 30-Day Fixed-Term Rates to 19%-37% After LEFI Removal

Excess liquidity from the July elimination of LEFIs has prompted banks to lower offers on 30-day peso deposits.

El Presidente Javier Milei se reunió esta mañana en su despacho de Casa Rosada con la Asociación Bancos Argentinos (ADEBA) Bolzico.
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Santiago Bausili, en el de streaming Carajo
El dinero en cuenta rendirá menos

Overview

  • On July 10, the Treasury’s removal of Letras Fiscales de Liquidez released idle pesos into the system, triggering widespread rate cuts on fixed-term deposits.
  • The BCRA’s July 16 table shows annual nominal rates now span about 19% at smaller lenders up to 37% at Banco Columbia for both clients and non-clients.
  • Among major banks, Banco de la Provincia de Córdoba tops the list with a 33.5% TNA offering for 30-day peso deposits.
  • Digital and home-banking channels continue to pay premiums, with Banco Nación’s online TNA set at 28% versus 25.5% for in-branch deposits.
  • Persistent monthly inflation near 2% and exchange-rate uncertainty keep plazos fijos as a favored low-risk option for Argentine savers.