The world financial crisis led Brazil to a net dollar outflow of 4.63 billion U.S. dollars in October, reversing an inflow of 2.8 billion dollars in September, the country's Central Bank said on Wednesday.
It was the biggest dollar outflow since January 1999, when the Brazilian Real had its worst devaluation and the outflow reached 8.5 billion dollars.
According to the Central Bank, the country was deeply affected as foreign investors withdrew their capital among the ongoing world financial crisis.
Brazil registered an accumulated net inflow of 6.7 billion dollars in the first 10 months of 2008, down 83 percent from the 76.7 billion dollars registered in the same period last year.
Brazil had a deficit of 6.2 billion dollars in October, the worst since the 6.5 billion-dollar deficit in January. The current account had a surplus of 1.6 billion dollars in the same period, with imports of 12.8 billion dollars and exports of 14.4 billion dollars.
<i>Source: Xinhua</i>
|
Comment
Tell A Friend
Print Format
Save Article