MW: Dollar inflows to Brazil dip in third week of Sept
By Jeffrey T. Lewis
BRASILIA -(MarketWatch)- Dollar inflows to Brazil declined in the third week of September compared with the previous week, as financial flows turned strongly negative, the central bank reported Wednesday.
Net dollar inflows to the country in the month fell to $8.1 billion in the week ending Sept. 23, from $8.5 billion in the month through Sept. 16, with negative financial flows every day last week. Net financial flows for the month through Sept. 23 fell to $295 million, down from $2.6 billion in the month through Sept. 16.
The Brazilian real, and the currencies of other emerging market countries such as Mexico, have declined sharply against the dollar in recent weeks as evidence of a slowdown in the global economy accumulated and as concern rose about a possible default by Greece on its debt.
Brazil's expanding domestic economy, and continuing demand from abroad for the country's commodities and other products, boosted imports and exports during the period.
The total value of exports rose to $20.5 billion in the month through Sept. 23, up from $14.4 billion in the month through Sept. 16. The total value of imports rose to $12.7 billion from $8.5 billion in the same period.
