Brazil’s economy is the largest in the latin america and second largest in the americas. Due to Portugal’s colonization of Brazil, it is quite influenced by portuguese culture and civilization. It is also among the countries that received most immigrants. Brazil has immigrants from various european countries, middle east, the United States, Japan and South Africa.
In year 2015, Brazil received $ 2.89 billion worth inward remittances. Among this, major portion was sent from US, Japan and Portugal. Brazil also sent outward remittances worth $ 1.62 billion. Of this amount, Japan, China, Lebanon, and European countries like Spain, Portugal, Italy and France received the most.
The remittance market of Brazil is quite developed and it has all kinds of remittance providers like banks, traditional money transfer companies and next generation money transfer companies. If you want to send money to Brazil, make sure you compare them to get the best value for US Dollar to Br
Current Exchange Rate(Mid Market) :- 3.4839 BRL/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.