{"id":92274,"date":"2024-12-19T18:41:26","date_gmt":"2024-12-19T21:41:26","guid":{"rendered":"https:\/\/murray.adv.br\/?p=92274"},"modified":"2024-12-19T18:41:28","modified_gmt":"2024-12-19T21:41:28","slug":"brazilians-transfer-money-abroad-despite-soaring-dollar","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/brazilians-transfer-money-abroad-despite-soaring-dollar\/","title":{"rendered":"Brazilians transfer money abroad despite soaring dollar"},"content":{"rendered":"\n<h6 class=\"wp-block-heading has-text-align-center\"><strong><em>Executive says the currency\u2019s surge reflects \u201cfearful money\u201d held by conservative investors<\/em><\/strong><\/h6>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>12\/19\/2024 <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Brazilians are increasingly transferring money abroad, even as the foreign exchange rate reaches record highs\u2014a departure from historical patterns.<\/p>\n\n\n\n<p>Roberto Lee, CEO of Avenue, a brokerage focused on facilitating international investments for Brazilians, notes that traditionally, a rising dollar dampens outflows. However, he observes a unique shift: the currency\u2019s surge is mobilizing \u201cfearful money\u201d held by conservative investors seeking to protect their assets. These investors are favoring U.S. government bonds with short- and medium-term maturities.<\/p>\n\n\n\n<p>\u201cWe\u2019ve been attracting a different type of money that accelerates during heightened risk and carries greater value. The pervasive sense of risk has prompted conservative investors to realize, often reluctantly, the need for a structural portion of their investments abroad,\u201d Mr. Lee explained.<\/p>\n\n\n\n<p>Avenue reports unprecedented inflows compared to its seven-year history, with volumes in its international accounts already surpassing November\u2019s total by mid-December. \u201cWe expect at least 20% more this month than last,\u201d Mr. Lee added.<\/p>\n\n\n\n<p>Similarly, XP has seen a 25% increase in international account remittances at the start of December compared to the prior month, while foreign investment expert fintech Nomad reports \u201cconsistent record-breaking growth, averaging a 7% rise in new investors,\u201d says Investment Director Caio Fasanella.<\/p>\n\n\n\n<p>According to Rodolfo Buim, head of product distribution at XP\u2019s international division, the dollar\u2019s peak and fiscal uncertainties in Brazil have driven clients to accelerate the dollarization of their portfolios as a hedge against volatility. \u201cDiversification into the American market is also a key draw, offering more maturity and historically greater long-term profitability,\u201d Mr. Buim explained.<\/p>\n\n\n\n<p>Mr. Fasanella, from Nomad, attributes the surge to Brazilians seeking stability and recognizing opportunities in U.S. markets.<\/p>\n\n\n\n<p>The current wave of international investment resembles a similar spike during President Lula\u2019s election in November 2022. However, Mr. Lee points out that last year\u2019s surge was fleeting. \u201cThis year, we\u2019ve more than doubled assets under custody, with the increase heavily concentrated in the second half of the year,\u201d he said.<\/p>\n\n\n\n<p>*By\u00a0Mar\u00edlia Almeida \u00a0\u2014 S\u00e3o Paulo<\/p>\n\n\n\n<p>Source: Valor International<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Executive says the currency\u2019s surge reflects \u201cfearful money\u201d held by conservative investors 12\/19\/2024 Brazilians are increasingly transferring money abroad, even as the foreign exchange rate reaches record highs\u2014a 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, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[25735,25736],"class_list":["post-92274","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-brazilians-transfer-money-abroad","tag-despite-soaring-dollar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brazilians transfer money abroad despite soaring dollar - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/brazilians-transfer-money-abroad-despite-soaring-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brazilians transfer money abroad despite soaring dollar - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Executive says the currency\u2019s surge reflects \u201cfearful money\u201d held by conservative investors 12\/19\/2024 Brazilians are increasingly transferring money abroad, even as the foreign exchange rate reaches record highs\u2014a departure from historical patterns. 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