💸 Dollar departure

Last month saw billions of dollars leave Brazil amid global uncertainty. Inflation is up once more. And a change to how internet services are classified could spell danger for small providers

Author

Gustavo Ribeiro
April 11, 2025 • Reading Time: 2 minutes

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Brazil sees major flight of dollars in March

There has been no letup in sight to the trade war. Photo: Alf Ribeiro/Shutterstock

There has been no letup in sight to the trade war. Photo: Alf Ribeiro/Shutterstock

Markets have wobbled over the past week and a half, rattled by growing anxiety over President Donald Trump’s trade policies and the US’s ever-intensifying standoff with China. With investors’ nerves frayed, emerging markets are bearing the brunt as capital flees riskier assets.

  • In Brazil, the real has lost value against the dollar in all but one trading session since Trump announced a new round of tariffs. The country’s benchmark stock index has followed suit, declining in six of the past seven days of trading.

Driving the news. Brazil saw a net outflow of USD 8.3 billion in March, the worst result for the month since records began in 1982, according to Central Bank data. And that was before the new trade war upended the global economy.

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