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Savings withdrawals continue to surpass deposits in Brazil

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Savings withdrawals continue to surpass deposits in Brazil

Savings withdrawals in Brazil exceeded deposits by some 8.25billion Brazilian reais in April, according to data from the Banco Central do Brasil.

This is the fourth consecutive month where withdrawals have exceededdeposits, raising the negative balance in 2016 to about 32.30 billion reais, thecentral bank noted.

As of May 5, US$1 was equivalentto 3.54 Brazilian reais.