Central Bank May Allow Dollar Accounts in Brazilian Banks

This measure is part of the Central Bank's agenda to stimulate productivity and improve the business environment in Brazil.

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - The chairman of the Brazilian Central Bank, Roberto Campos Neto, announced on Wednesday May 29th a series of actions that the bank should take to improve the business environment in the country, reduce bureaucracy and stimulate productivity.

The measures are part of the so-called BC# agenda.

Among them is a draft bill that would be sent to Congress to simplify foreign exchange legislation. One of the points in the project would allow dollar-denominated bank accounts in Brazil and also facilitate banks in other countries holding accounts in Brazilian Reais . . .

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