RIO DE JANEIRO, BRAZIL - In a year marked by strong exchange rate volatility, the outflow of dollars from the Brazilian economy exceeded its inflow by US$44.77 (R$180) billion in 2019, the Central Bank (BC) announced on Wednesday, January 8th. This is the largest net foreign exchange withdrawal since the start of the historical series in 1982.
The previous record for net withdrawals had been recorded in 1999 when foreign exchange flow - the difference between dollar inflows and outflows - had turned negative at US$16.18 billion.
That year, Brazil had abandoned the exchange rate band policy and . . .