Bank lets Brazilians send more money overseas
Brazil's Central Bank has doubled the amount of money that
citizens can transfer overseas as wealthy Brazilians continue to buy up
While Brazil's currency stays strong in the country's
booming economy, more buyers are entering foreign markets than ever before,
with investors pouring into Miami and Florida. Now the Central Bank has upped
the levels they can transfer through brokers, Brazilians are spending big.
had a pent-up demand because we had to reject all customer transactions over
$50,000," one Sao Paolo brokerage firm told OPP.
"We had expected a maximum increase of 30% [in
transactions], but growth has exceeded our most optimistic expectations and we
had a growth of 40%... We hope this figure goes to $200,000 soon. It'll happen.
It's a breakthrough in Brazil."