Fixed term increase: what is the current interest rate and when will it renew

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he Central Bank of Argentina (BCRA) announced new measures the day after its findings. Election STEP 2023. I decided to increase it. interest rate of fixed deadline in 21 points ratio.

Therefore, the nominal annual rate (TNA) passed from 97% to 118% In August. This is one of the largest increases ever made by a financial institution in direct response to the appreciation of the dollar.

After the market opens dollar blue went to $665 to buy now $685 then win for sale Javier Millais in STEP.meanwhile he BCRA decided to increase official dollararrived this Monday $365.50 For sale.

What is the new term interest rate?

he BCRA announced that the nominal annual interest rate was 118%the effective annual rate (TEA) remains unchanged 209%.

“Periodic Minimum Guaranteed Interest Rate” It will be defined based on the new level of political interest rates.”told a financial institution in the Argentine Republic.

When will the new term interest rate apply?

As indicated by the entity, the new provisions will come into force from this Monday. August 14th For new fixed-term contracts.

People who have already saved or invested in a bank Interest rates will remain at their previous values of 97% are TNAsuntil the end of the period.

How much profit would you make if you regularly invested $100,000, $200,000, or $300,000?

With the new interest rates, those who want to invest these amounts for a fixed period will get:

investment you give Earnings
$100,000 30 $9,698
$200,000 30 $19,397
$300,000 30 $29,095

Fixed-term BCRA measures

directory of BCRA It is considered “wise” to “recalibrate” interest rate levels.Readjustment of official exchange rate levels”.

According to the company, the purpose of this measure is to: “Anchor exchange rate forecast and Minimize the extent of price pass-throughreal profits tend to be positive in local currency investments, encourage the accumulation of international reserves.

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