Brazil And The BRL Currency: How Sending Money To Brazil Works And How We Can Help

Brazil is constantly in the financial press as one of the world’s largest emerging economies with investors increasingly buying up property, land and assets. We are one of the only foreign exchange firms in the UK that offer Brazilian Real (BRL) transfers with the processes surrounding sending money to Brazil being unique. Here we describe how we can make this process simple for you and also see the link on the right to download a free Brazilian market report e-book from our affiliate Property Secrets for investors considering purchasing in Brazil. How do I send money to Brazil? We specialise in helping our clients achieve the best exchange rates as well as helping them to understand the options available in terms of how to transfer their funds to Brazil. There are two routes available for clients who want to transfer funds to Brazil – these are the “Local Route” or via the Central Bank of Brazil. Which option you decide to use will depend on what exactly you are sending funds for. The Local Route The local route typically results in the quickest transfer time. Business clients paying for goods or private clients sending money to Brazil for living costs or maintenance are examples of clients who use the local route to transfer funds. The process is easy: 1) Register with Currency Solutions 2) Book transfer with broker on the phone 3) Send funds to Currency Solutions, confirm account details and funds will be sent Via The Central Bank of Brazil Some clients, such as those buying an investment property with a plan to sell again in the future, will be advised by the lawyer involved to send their funds via The Central Bank of Brazil. This process requires some extra documentation required by the Bank of Brazil in order to release a tax code– Currency Solutions will help to arrange this and make sure that the process runs smoothly. The process requires extra documentation but is still simple: 1) Register with Currency Solutions 2) Provide extra documentation regarding the transfer as discussed with broker including additional ID, a CPF number and further details of the recipient. 3) Book transfer with broker on the phone 4) Send funds to Currency Solutions, Confirm account details and funds will be sent What is happening with the Brazilian Real in the markets? Due to the amount of investment that takes place in Brazil, the Brazilian Real is typically strengthening continually against other major currencies from non-emerging economies such as the Pound, Euro and US Dollar. In fact, this causes problems for the Central Bank as the Brazilian economy also depends on an affordable currency to maintain its strong export tradition as well as continued investment. Like any other currency, the Brazilian Real is subject to swings based on the various economic data that offers insights into how well the economy is faring as well as more global impacts. Just last week for example we saw the currency fall in response to the US strong jobs figures as markets took the stance that this would hinder demand for emerging market assets. The best way to keep an eye on the complex influences on the Brazilian Real is to speak with your broker who will keep you updated or log an enquiry with us online or by calling if you are not yet registered with us as a client. Money Reviews