Brasília – Spending by Brazilians abroad totaled USD 1.382 billion in August, a decline of 20.8% over the same month of last year, according to data shown this Monday (24) by the Brazilian Central Bank (BC).
The head of BC’s Statistics Department, Fernando Rocha, pointed out that the average dollar rate went from BRL 3.15 in August 2017 to BRL 3.93 in August 2018, a 24.8% hike.
“In a quick calculation, it was cheaper for the foreign tourist to come to Brazil and it was more expensive for the Brazilian to spend abroad,” said Rocha.
Spending by foreigners in Brazil reached USD 482 million in August, up 5.9% over the same month of 2017.
From January to August, spending by Brazilians abroad totaled USD 12.686 billion, up 2.07% over 2017’s first eight months. Meanwhile, spending by foreigners in Brazil totaled USD 4.139 billion, up 4.7% in the same comparison.
Translated by Sérgio Kakitani
