December 4, 2019 / 8:03 PM / 2 months ago

Brazil posts $4.5 bln FX outflow in last week of Nov -central bank

BRASILIA, Dec 4 (Reuters) - Brazil posted a net foreign exchange outflow of $4.5 billion in the last week of November, the central bank said on Wednesday, a week that saw the dollar’s surge to a record high against the real prompt central bank intervention.

That was the most since the $8.6 billion outflow in the last week of June, and brought the total outflow for November to $5.7 billion, the fourth month in a row of outflows.

The flow of dollars out the country intensified in the last week of the month, Nov. 25-29, when the U.S. currency rose as high as 4.2770 reais, and wiped out a $4 billion inflow from the previous week.

In the 12 months to November, the net outflow stood at $39.9 billion, one of the highest since comparable records began in 1982, just below the $40.8 billion net outflow registered in the 12 months to October.

So far in the calendar year 2019, Brazil has posted a net FX outflow of $27.2 billion, compared with a net inflow of $11.8 billion in the same period last year, central bank figures show.

$1 = 4.2050 reais Reporting by Jose Gomez Neto Writing by Jamie McGeever; Editing by Lisa Shumaker

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