Brazil Has Record Increase Of International
Reserves in 2009
RIO DE JANEIRO - Brazil’s Central Bank
reserves soared 23.4% in the last twelve
months having reached 239 billion US dollars
by December 31st, according to the latest
data available. Nevertheless the Central
Bank points out that this was below the
December 2nd record of 239.4 billion USD.
This also means that proportionately Brazil
had the highest percentage increase in
foreign exchange reserves among the leading
emerging economies, more precisely the BRIC
(Brazil, Russia, India and China) group.
During 2009, and for the ninth year running,
Brazilian international reserves increased
45.2 billion USD. This is also the longest
period of growing reserves since statistics
became official in 1957.
China’s reserves, --based on available data,
the twelve months to September--, increased
19.3%, although given the turnover volume,
the percentage is equivalent to 366.9
billion US dollars, which is greater than
all of Brazil’s international reserves. At
the end of September China’s central bank
was sitting on 2.27 trillion USD.
In India reserves jumped 12.5% in the twelve
months to October reaching 284.3 billion
USD, while in Russia international reserves
actually dropped 10.4% in the twelve months
to October and now stand at 434.4 billion
USD.
In Brazil following the most critical period
of the recession, the Central Bank in May
2009 begun daily purchases of US dollars in
the domestic market which coincided with the
massive inflow of foreign capital. Since
then the bank purchased 26.9 billion USD in
the Brazilian domestic market.
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