1 Minute Read by Reuters Staff Reuters, BRASILIA, July 6 – The central bank of Brazil said on Tuesday that savings accounts in Brazil increased by 7.1 billion reais ($1.37 billion) in June, the third consecutive monthly net inflow. According to the June numbers, Brazilians increased their bank savings by a net 11 billion reais in the second quarter, following a record depletion of 27.5 billion reais in the first. The government’s emergency cash handouts to the needy, which were reintroduced in April to ameliorate the impact of the COVID-19 pandemic, coincide with the three months of net savings. The four-month extension is coming to an end at the end of the month. On Monday, the administration announced a three-month extension that will begin in August and end in October. 5.17 reais = $1 Jamie McGeever contributed reporting, and Aurora Ellis edited the piece./n
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