Brazilian savings accounts rise in June for third month in a row

  • 7/6/2021
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BRASILIA, July 6 (Reuters) - Brazilian savings accounts rose by 7.1 billion reais ($1.37 billion) in June, central bank figures showed on Tuesday, the third monthly net inflow in a row. The figures for June mean Brazilians boosted their bank savings by a net 11 billion reais in the second quarter, following a record 27.5 billion reais drawdown in the first quarter. The three consecutive months of net savings coincides with the reintroduction in April of the government’s emergency cash transfers to the poor to mitigate the effects of the COVID-19 pandemic. That four-month extension expires at the end of this month. The government announced on Monday a further three-month extension starting in August and running through October. $1 = 5.17 reais Reporting by Jamie McGeever; Editing by Aurora Ellis Our Standards: The Thomson Reuters Trust Principles.

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