Turbulence in the financial market at the end of last year caused Brazil to record, in December, the largest monthly outflow of dollars in history. Last month, the exchange flow was negative at US$ 26.41 billion, as a result of the outflow of R$ 28.861 billion via the financial account and the inflow of US$ 2.45 billion via the commercial account, announced this Wednesday (8) the Central Bank (BC).
The BC’s historical series begins in 1982. Until now, the largest monthly net outflow of dollars in history had been recorded in September 1998, at the beginning of the Russian crisis, when US$18.919 billion had left the country.
In relation to the balance of 2024, the exchange flow closed the year with a negative balance of US$ 18.014 billion. This was the third largest net outflow since 1982, second only to 2019, when US$44.768 billion had left the country, and to 2020, the first year of the covid-19 pandemic, when the flow had been negative at US$27.923 billion.
Last year, US$87.214 billion left the country via financial accounts. In the commercial account, US$69.2 billion entered. Both inflow and outflow amounts were records in the historical series beginning in 1982. Traditionally, the trade flow records positive data because of the trade balance surplus.
Last week, from December 30th to January 3rd, the exchange flow recorded a negative balance of US$5.602 billion, resulting from the outflow of US$6.353 billion via the financial account and the inflow of US$752 million via the commercial account.
Preview
Monetary and financial relations between residents and non-residents are measured by the balance of payments, published at the end of each month by the Central Bank. The exchange flow, however, works as a preview of the numbers, when accounting for advances on exchange contracts and advance payments.
The exchange rate flow is made up of two parts: the commercial flow, which measures the exchange rate closing for exports and imports, and the financial flow, which measures investments in companies, loans and transactions in the financial market. Data from the Central Bank shows that, last year, the flight of dollars occurred in the financial channel.
