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| International Money Transfer |
Good news for Brazilians! According to
a new rule of the Brazilian Central Bank, the resident Brazilians can now send
double the amount of cash to any foreign country via brokerage firms and banks
as well. The intended purpose behind this new rule is to encourage the
countrymen to plan property purchase and other investments on the foreign
soils.
According to the news in the leading
Brazilian newspapers, people of this country are getting more addicted to easy
and electronic money transfer. Stability in the country’s currency market is
also contributing to the rise in demand for International Money Transfer. The
real market dealers too are coming with flooding
offers to make the most of stable and burgeoning Brazilian economy.
The central bank proposed this new rule
in January, this year. The rule has been turned out to be a major breakthrough.
As per as the new rule, the brokerage firms are permitted to send money up to $100,000.
This upper bar has been raised from $50,000 in 2011 and $20,000 in 2009. The well-healed
Brazilians can now send and spend more abroad.
Fernando Bergallo, TOV Brokerage
foreign and currency manager has told OPP that more than $50,000 transaction
was rejected in the past. The new rule is expected to meet the pent-up demand
for money transaction. Initially, the central bank authority expected the
transaction to grow up by 30% but in reality the figure has gone up to 40%. According
to the authority, this figure is estimated to hit a high of $200,000 in near
future.
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