In the last month, fixed-term deposits experienced slight losses, despite being considered the most sensitive to changes in risk perceptions. However, market analysts highlight that this type of deposit still has room for growth.
One of the main factors driving the demand for fixed-term deposits is the slowdown in inflation, as well as the calm exchange rates in both the official and parallel markets. Fixed-rate yields in pesos become more attractive when compared to the dollar, making these instruments even more appealing.
Adrián Moreno, an economist, points out that in this context, fixed terms are relevant for conservative savers, as they see value in the expectation that exchange rates will remain stable at least until the legislative elections, which explains the sustained increase in demand.
Although there are rumors of devaluation, the supply of dollar bonds has decreased compared to fixed-rate instruments in pesos. The Central Bank reported that as of March 11, traditional private fixed-term deposits reached $41.34 trillion, with a 2.7% increase in the last 30 days, above inflation.
The growth in demand is not new, as in the first two months of the year, the total amount invested in fixed-term deposits increased by 15.7%, well above the accumulated inflation rate. Despite the improvement, the stock of placements remains at low levels compared to previous decades, although it has seen an increase in recent months.
Experts like Camilo Tiscornia predict that exchange rate stability and the trend towards slowing inflation will continue to favor the demand for fixed-term deposits in the future. Even though the current monthly yield is slightly lower than the consumer price index for February, this type of savings in pesos remains attractive for various investor profiles.
In summary, fixed-term deposits are gaining attractiveness in the Argentine financial market, thanks to exchange rate stability and the outlook of slowing inflation. Despite the diversity of investor profiles using them, these instruments remain a popular option for those seeking a balance between risk and return.
