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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.

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