Brazil posts largest yearly dollar outflow since 2020
3:30 pm Wednesday, January 08th, 2025
SAO PAULO (Reuters) – Brazil registered a total net outflow of $18.01 billion in 2024, the largest amount since 2020, central bank data showed on Wednesday, amid a historic depreciation of the Brazilian real in the final weeks of the year.
The result was driven by net outflows on the financial segment, according to the data, including foreign investments, profit remittances, and interest payments, despite a net inflow on the commercial segment, related to exports and imports.
The Brazilian real depreciated by more than 27% last year, its biggest swing since 2020. The currency hit record lows in the last two months of 2024 amid market worries over government spending as well as currency outflows.
In December alone, Latin America’s largest economy reported a net outflow of $26.41 billion, the central bank data showed.
In 2025, the real has so far regained some ground, strengthening about 1% against the U.S. dollar in the spot market.
(Reporting by Fabricio de Castro; additional reporting by Andre Romani; Writing by Isabel Teles; Editing by Kylie Madry and Brendan O’Boyle)
