Brazil Economic Information
Central Bank: Central Bank of Brazil
Currency: Brazilian real (R$ or BRL)
After their currency depreciated sharply in 2001 and 2002, the Brazilian government implemented an aggressive economic program to curb inflation and reduce debt. Since 2004, Brazil has enjoyed continuous economic growth and increases in employment and real wages. While this growth has had a positive impact on Brazil's economy, a quarter of the population remains below the poverty line. As the largest economy in South America and a growing presence in the world markets, Brazil has gained the confidence of many foreign investors.
Key industries:
Textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment.
Agricultural products:
Coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus and beef.
Export commodities:
Transport equipment, iron ore, soybeans, footwear, coffee and autos.
Import commodities:
Machinery, electrical and transport equipment, chemical products, oil, automotive parts and electronics.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/16/2008. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Brazilian real:
Reasons to consider
- An aggressive export policy has led Brazil's trade surplus to grow from a deficit of 4.6% of GDP in 2001 to a surplus of 1.3% of GDP in 2006.
- Brazil is Latin America's largest market and within the top 10 of the world's largest economies in GDP terms.
- Brazil has the second largest oil reserves in South America and is one of the fastest growing oil producers in the world, becoming a net oil exporter in 2007. A major oil discovery in 2007 at the Tupi field, located off the coast of Rio de Janeiro, could help Brazil join the ranks of the world's major exporters.
Risk factors to consider
- As an emerging market, Brazil's economy and the value of the real can be susceptible to the fluctuation of global risk aversion.
- The president's term will end in 2011 with no current successor in place.
- While Brazil has experienced a significant reduction in poverty rates during the past several years, the country remains one of the world's most unequal societies with around a quarter of the population below the poverty line.
How EverBank can help with your Brazilian real needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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