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Brazil's savings withdrawals top deposits for third consecutive month in March

For the third month in a row, savings withdrawals outdid deposits in Brazil for March, according to data from Banco Central do Brasil.

The negative balance amounted to about 5.00 billion Brazilian reais in the period, the central bank data showed. The negative balance was more significant compared to February when withdrawals outpaced deposits by some 1.67 billion reais.

As of April 5, US$1 was equivalent to 3.09 Brazilian reais.