Despite a 24.6% drop, 2024 posts second-best performance; exchange rate and U.S.-China tensions add to doubts 01/07/2025 Brazil’s trade surplus for 2024 reached $74.55 billion, a 24.6% drop from the record-breaking $98.9 billion in 2023. Despite the decline, 2024 still secured the second-highest trade surplus since official records began, in 1997, according to the Ministry […]
Monetary authority sold $21.574bn in the spot market and $11bn in line auctions 01/06/2025 Currency interventions conducted by Brazil’s Central Bank in December decreased international reserves by $33.3 billion in one month, bringing the total to $329.7 billion by the end of 2024. At the end of November, the reserves level was $363 billion. Despite […]
Institutional investors follow suit, ending the year with net withdrawals on the secondary market 01/06/2025 The turbulence triggered by the government’s unveiling of weaker-than-expected fiscal measures, anticipation of aggressive protectionist policies from Donald Trump, and rising Selic rates kept foreign investors at bay from Brazil’s stock market throughout 2024. Data from B3, the Brazilian stock […]
MURRAY ADVOGADOS
By November’s close, 98 companies had approved programs, marking a 20% increase over 2023 12/30/2024 Amid one of the leanest periods for stock offerings on the Brazilian exchange, banks are witnessing a notable surge in share buybacks within their brokerage divisions. With market valuations depressed and no clear signs of recovery, companies are ramping up […]
Brazil emerges as second leading nation raising concerns over other countries’ or blocs’ practices 12/30/2024 Trade frictions centered around environmental and national security issues are on the rise at the World Trade Organization (WTO), highlighting Brazil’s increasing challenges in the global trade arena. A WTO study reveals that Brazil ranked second in raising trade concerns […]
City Hall anticipates 5 million attendees at events citywide 12/30/2024 Rio de Janeiro City Hall anticipates that New Year’s Eve 2025 will inject R$3.2 billion into the city’s economy, with an estimated 5 million people attending events across the capital. Copacabana alone is expected to host 2.5 million locals and tourists ringing in the new […]
Flávio Dino authorizes pending committee funds but imposes conditions on future allocations, impacting federal spending dynamics 12/30/2024 Supreme Court Justice Flávio Dino authorized the payment of committee budget allocations committed by December 23, even without disclosing identity of the requester. However, he prohibited new authorized payments unless a lawmaker takes responsibility for the funding request. […]
Executive says the currency’s surge reflects “fearful money” held by conservative investors 12/19/2024 Brazilians are increasingly transferring money abroad, even as the foreign exchange rate reaches record highs—a departure from historical patterns. Roberto Lee, CEO of Avenue, a brokerage focused on facilitating international investments for Brazilians, notes that traditionally, a rising dollar dampens outflows. However, […]
Driven by local and external pressures, exchange rate against the U.S. dollar surged to R$6.26, while the Ibovespa stock index experienced its steepest daily drop since November 2022 12/19/2024 A storm driven by local and external factors sparked another round of turmoil in Brazil’s markets during Wednesday’s session. No asset was spared. The exchange rate […]