By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Brazilians withdrew from their savings accounts in record numbers in January, registering the largest overall net monthly withdrawal since the Central Bank started to record its data in 1995. Last month, clients took out R$161.59 billion from savings accounts while deposits totaled R$149.56 billion.
In 2015, accumulated interest rates on savings accounts was lower than the annual inflation, and these types of accounts registered a negative balance of R$53.56 billion. Overall, the total volume of revenues deposited in savings accounts at financial institutions is . . .
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