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Brazil's withdrawals outpace savings deposits by 708.1M reais in February

Withdrawals in Brazil surpassed savings deposits in February by 708.1 million Brazilian reais, marking the second consecutive month of this negative trend, according to data from Banco Central do Brasil.

Total savings deposits in February amounted to 158.70 billion reais, while withdrawals totaled 159.41 billion reais, according to the central bank.

For the first two months of 2018, Brazil's savings accounts recorded a net withdrawal amount of 5.91 billion reais. However, for the 12-month rolling period through February, the savings account balance is positive at 23.62 billion reais.

As of March 6, US$1 was equivalent to 3.23 Brazilian reais.