Brazil Gets US$ 2 Billion Forex Surplus and Slows Down Dollar Buys

Brazil and US currencyBrazil’s foreign exchange surplus (Forex), i.e. the sum of dollar inflow and outflow into Brazil, a.k.a. foreign exchange surplus, was positive by US$ 1.917 billion in the first week of February, according to data disclosed by the Brazilian Central Bank.

In the same period of 2009, with five business days, the surplus was lower: US$ 345 million.

The result is mostly due to investment in bonds and in fixed income, and remittances of profits and dividends to foreign countries, which had a combined surplus of US$ 1.517 billion during the period. As for exports, imports and foreign trade financing, the surplus was US$ 400 million.

From January to February 5 this year, the foreign exchange surplus was US$ 2.991 billion, as against a US$ 2,673 billion deficit in the same period of 2009.

During the period, bonds and fixed income investment and remittances recorded a surplus of US$ 2.731 billion, and exports, imports and financing recorded a US$ 260 million surplus.

The data also show that the Central Bank has slowed down the rate of purchase of dollars in the spot market. In the first week of February, US$ 54 million were purchased. In January this year, the result was US$ 1.709 billion.

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

More Civilians Murdered in Brazil in One Year than in Iraq After 3 Years of War

About 45,000 Iraqi civilians have been killed since the invasion of their country by ...

Brazil Praises Encounter Between Lula and EC President

Brazil’s Minister of Finance, Antônio Palocci, said that the  Janunary 28 meeting between Brazilian ...

Accused of Bandits Brazilian Judges Refuse to Be Judged by Other than Their Own Peers

A majority of the members of Brazil’s National Judiciary Council (CNJ) signed a document ...

Dreaming of Rio, in Tripoli

We have warmed to one another. I now feel it is the moment to ...

Royal Road: A Walk Into Brazil’s Infancy

Glenn Cheney spent two months walking alone on the Estrada Real in Minas Gerais, ...

It’s Time Brazil Learn Killing Drug Dealers Is Not the Answer

The cost of treating  someone addicted to drugs in Brazil is  around  US$ 500,00 ...

Brazil Injects Close to US$ 3 Billion in Economy to Halt Rising Dollar

The Brazilian Central Bank announced on Thursday, October 16, further measures to ensure liquidity ...

Romancing the IMF

Brazilian Finance Minister, Antônio Palocci, the former Trotskyist,  is saying the right things. He ...

Brazil’s Sugarcane Industry Wants Import Tariff Cut Done Fast

The announcement by the Brazilian Chamber of Foreign Trade (CAMEX) to postpone a decision ...