Brasília – Brazil’s inflow of dollars exceeded the outflow by US$ 5.108 billion up to March 9, according to figures disclosed on Wednesday (14) by the Central Bank of Brazil (BC). From January to March 9th, the balance is US$ 18.095 billion positive. In January, the exchange flow was US$ 7.283 billion positive and in February, US$ 5,705 billion. In the accumulated result for the same period last year, the balance was much greater, reaching US$ 30.361 billion.
This month, up to the 9th, the financial sector (investment in papers, transfer abroad of profits and dividends and foreign investment, among other operations) resulted in a positive balance of US$ 1.499 billion. The trade flow (operations related to exports and imports) resulted in a balance of US$ 3.609 billion.
The strong inflow of dollars into the country has resulted in the government adopting measures to contain the appreciation of the Brazilian real. A decree published on Monday (12) increased from three to five years the period in which a 6% Tax on Financial Operations is levied on foreign funds entering the country.
This was the second IOF change adopted in March. On the 1st, the government had already increased the period in which the tax would be levied from two to three years. In practice, this means that funds will have to spend a longer time in the country to avoid being taxed, reducing the interest for short-term funds and those not turned to production.
Finance minister Guido Mantega informed that, when necessary, the government is going to adopt measures to defend the Brazilian real.
*Translated by Mark Ament
