# Brazil cannot rely on foreign funding in short term, says central bank chief

> Brazil's central bank chief said the country cannot rely on foreign funding in the short term. Brazil recorded a record $22.2 billion portfolio outflow in March and a further $7.3 billion outflow in April. Foreign holdings of Brazilian bonds fell to their lowest level in April.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/7614-brazil-cannot-rely-on-foreign-funding-in-short-term-says-central-bank-chief
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Capital outflows weaken the real and raise the local cost of imported feed inputs and fertilizers priced in dollars. Brazil's currency pressure can also shift export competitiveness for soy and corn.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-08-30 | [Brazil Real Swings on Fiscal Woes, Central Bank Interventions](https://feedsoft.ai/events/29017-brazil-real-swings-on-fiscal-woes-central-bank-interventions.md) | -0.8% | -3.6% |
| USDBRL | 2020-03-04 | [Brazil central bank to intervene in FX swaps market on Thursday](https://feedsoft.ai/events/54310-brazil-central-bank-to-intervene-in-fx-swaps-market-on-thursday.md) | +4.1% | +15.5% |
| USDBRL | 2020-10-31 | [Brazil's central bank intervenes twice in the week in support of the weakening Real — MercoPress](https://feedsoft.ai/events/50836-brazil-s-central-bank-intervenes-twice-in-the-week-in-support-of-the-weakening.md) | -5.2% | -9.0% |
| USDBRL | 2024-08-13 | [Brazil's central bank had no reason to intervene in FX amid 'accelerated weakening'](https://feedsoft.ai/events/11942-brazil-s-central-bank-had-no-reason-to-intervene-in-fx-amid-accelerated.md) | -1.8% | +2.6% |
| USDBRL | 2021-06-04 | [Brazil short-term FX rally obscured by reform worries](https://feedsoft.ai/events/46796-brazil-short-term-fx-rally-obscured-by-reform-worries.md) | -0.2% | -0.9% |

## Sources

- reuters.com: https://www.reuters.com/article/brazil-economy-cenbank-idUSL1N2DE166/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.