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Brazil’s Flow of Exchange Gets Into Red Territory

Brazil's flow of exchange, i.e., the sum of dollar inflow and outflow in the country, was negative by US$ 1.768 billion, in September, up until the 11th. The figure is lower than the one recorded in the same period of last year, which was US$ 4.179 billion. The information was disclosed by the Central Bank of Brazil (BC).

The negative result was mainly a consequence of the trade flow result (exports, imports and financing to foreign trade), which ran a deficit of US$ 1.491 billion. Financial operations (investment in bonds, remittances of profits and dividends to foreign countries and foreign direct investment, among other operations) was also negative, at US$ 277 million.

From January until September 11th, the flow of exchange was positive by US$ 5.125 billion, as against US$ 18.564 billion during the same period of 2008. So far in 2009, the flow of trade remains positive by US$ 9.843 billion, and the flow of finance is positive by US$ 4.718 billion.

The Central Bank also informed that up until September 11th, it had purchased US$ 636 million on the market. The dollars purchased become part of the country’s foreign reserves.

New Jobs

In the month of August in Brazil, 242,126 job positions were created, as a result of 1,457,455 people taken on and 1,215,329 dismissals. It was the best result this year, as informed today by the Ministry of Labor, upon disclosing the General Records Office for Employment and Unemployment (Caged). The number of dismissals was the lowest this year.

The services sector was the one that hired the most, with 85,568 new workers, the second highest figure ever for August, and the highest this year. The processing industry hired 66,564 workers, the best performance ever for the sector and best result in 2009. So far this year, the country has created 680,034 formal jobs.

Next: Brazilians’ Buying Spree Yanked Brazil Out of Recession
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