Includes how foreign exchange is managed and implications for U.S. business.
Brazilian Reais can be obtained at banks or approved foreign exchanges. The exchange rate between the $ and the R$ varies on a daily basis.
The Brazilian Central Bank (BCB is the federal agency entrusted to implement the National Monetary Council’s (Conselho Monetario Nacional) policies to improve and stabilize the national financial system. Its functions include the control of foreign capital flows.
Though there is no limit to the amount foreign visitors can bring into the country or from the country, amounts over R$10,000.00 require documentation, and an electronic Currency Carry-On declaration must be filed in such cases.
In Brazil, accounts can only be kept in Reais. For a Brazilian importer to remit funds to a seller in the United States, the importer must purchase the corresponding foreign funds by means of an exchange contract at any bank authorized by the BCB. The exchange rate and related fees are negotiated directly between the purchaser of the foreign currency (the importer) and the bank.