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 […]
Estimates suggest the dry season will impose R$1.3 billion in additional costs on the Manaus Free Trade Zone 12/19/2024 The Negro River in Amazonas has reached 12.1 meters this year, its lowest level in over a century. In some tributaries, what used to be waterways has turned into fields dominated by wild rice and mud. […]