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Mercados

Brazil savings account deposits up 11.4 bln reais, an August record but also pandemic low

BRASILIA, Sept 4 (Reuters) - Brazilian savings accounts grew by 11.4 billion reais ($2.15 billion) in August, central bank figures showed on Friday, a record for that month as the economic fallout from the COVID-19 pandemic kept consumers wary about spending.

It was the lowest in six months, however, since the onset of the COVID-19 pandemic, adding to the view that the worst of the economic crisis is over and a recovery is underway.

Net deposits in the first eight months of the year stand at 124 billion reais, compared with 14.8 billion reais in outflows in the same period last year, central bank figures showed.

This year is on course to record the highest savings since comparable records began in 1995. The previous annual record was in 2013, when savings accounts attracted net deposits of 71 billion reais, central bank figures show. ($1 = 5.30 reais) (Reporting by Jamie McGeever and Gabriel Ponte; editing by Jonathan Oatis)

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