Overseas spending by Brazilians up 88%
Consumption during trips to other countries reached USD 1.5 billion in January, the Central Bank reported. In January of last year, expenditure had reached USD 840 million.
Brasília – Spending by Brazilian citizens during trips to other countries reached USD 1.578 billion in January, the Brazilian Central Bank said this Friday (17). The amount is up 87.95% from USD 840 million in January 2016.
The head of the Central Bank’s Economic Department, Tulio Maciel, pointed out that the weaker dollar was the primary driver of expenditure, and added that the US currency was worth roughly BRL 3.20 during the month. In January of last year, the average had been BRL 4.05. “This is a relevant fluctuation of over 20% in exchange rate from one period to the other,” he said.
*Translated by Gabriel Pomerancblum