With the rise in the dollar, remittances from Brazilians living abroad to family members in Brazil have broken records. In September, US $ 293 million in personal transfer revenues were recorded, according to data from the Central Bank (BC). This was the highest volume for the month of September, in the historical series, which started in 1995. In September 2019, transfers totaled US $ 248.6 million.
From January to September this year, US $ 2.407 billion were sent to Brazil, an increase of 11.6% compared to the same period in 2019. According to the head of the BC Statistics Department, Fernando Rocha, the most expensive dollar makes that the money converted into reais in Brazil represents a greater volume of resources. He says this may encourage Brazilians abroad to send more dollars to the country.
“As the person abroad who is sending to his relatives in Brazil knows that the same amount of dollars he sends will always represent a larger amount, he may have an incentive to increase this flow in dollars”, he said, presenting the accounts report last Friday (23).
On the other hand, the rise in the dollar discourages the sending of funds from Brazil abroad. In September, these transfers reached US $ 128 million, down 18.9% compared to the same month of 2019. In the year to September, the value reached US $ 1.065 billion, a decrease of 31.1% against same period of 2019.
Countries of origin
Most of the transfers that come to Brazil are from the United States. This September, the volume reached US $ 147.2 million. Another US $ 57 million came from the United Kingdom, US $ 17 million from Portugal, US $ 9.8 million from Spain, US $ 7.7 million from Italy and US $ 7.6 million from Japan.