Brasília – Brazil’s inflow and outflow of dollars, the Forex balance, generated a surplus of US$ 3.458 billion over the first five working days of October, up to last Friday (7), according to a bulletin disclosed today (13) by the Central Bank of Brazil (BC). The trade turnover registered a balance of US$ 1.833 billion and the financial flow generated a surplus of US$ 1.625 billion.
With this result, the aggregate balance this year has reached US$ 71.756 billion, against US$ 19.584 billion in the same period in 2010 and US$ 24.354 billion throughout last year. The record inflow of dollars is the result of a balance of US$ 39.705 billion in trade transactions and US$ 32.051 billion in the financial flow.
The inflow of dollars has been accentuated throughout the year, except in June, when the year’s only deficit took place (US$ 2.556 billion), as a result of expansion of the Financial Operations Tax (IOF) levied on foreign loans, aimed at containing depreciation of the US dollar as against the Brazilian real.
After the initial impact of the measure, foreign investors returned to Brazil with a redoubled appetite for the country’s high interest rates and, in the following month, the net inflow reached US$ 15,825 billion – the highest monthly surplus this year. The tendency for inflow of dollars remained in the following months, but at a lower rhythm.
*Translated by Mark Ament
