The American currency has been volatile in recent months, with rising peaks and the scenario for the coming months is uncertain
Many Brazilians planning international travel later this year are concerned about the changing dollar. The American currency has been volatile in recent months, with rising peaks, and the scenario for the coming months is uncertain. Donald Trump’s victory in the American elections brought an even greater unknown.
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Last Wednesday, the 6th, after the victory of the Republican candidate, an error in Google’s real-time price monitoring tool showed that the dollar exceeded R$6. However, the currency did not reach that level and was trading at R$5.70. On November 1, for example, the dollar reached R$5.87, its highest level since May 2020.
“If the upward trend continues, there is a possibility that the dollar will stabilize around R$6.00, which would require further monetary policy measures to mitigate the effects on the Brazilian economy,” assesses Felipe Vasconcellos, partner at Equus Capital .
But, after all, for those who are already planning a trip abroad at the end of the year, how do you prepare? Is it still worth going ahead and buying American currency? Or does it make more sense to spend directly on the card (thus waiting for the invoice closing estimate) when you are already travelling? THE Earth he went looking for answers.
Douglas Ferreira, head of the FX Desk at Planner Corretora de Valores, recommends acquiring the currency little by little, setting an average price. “This way the traveler minimizes the impact of fluctuations, avoiding buying everything at once at a time of high demand. Although there is a possibility of a possible decline in the dollar after the purchase, this strategy makes sense as it reduces exposure to sudden changes,” he advises.
Foreign account, card or cash?
Among the payment options abroad, Ferreira points out that buying dollars in cash or opening an account abroad are the most advantageous. Remember that the financial transaction tax (IOF) for purchases of dollars “in cash” and on transfers of the same property to accounts abroad is 1.1%, while using an international credit card has a higher rate, equal to 4.38%.
According to Ferreira, another option to protect yourself from a sudden rise in the dollar is to invest in foreign exchange funds, which invest 80% in assets linked to the American currency. “This can be a way to protect yourself from exchange rate fluctuations and provide greater peace of mind while traveling,” he explains. “With the uncertain exchange rate scenario, the best strategy is financial planning, dividing the currency purchase into several stages and looking for options that minimize the impact of IOF.”
And what about those who travel to countries other than the United States and which, therefore, do not have the American dollar as their currency? According to Ferreira, even in these cases, purchasing American currency can be a good option. “The dollar is the most liquid currency in the world. If the traveler is traveling to a country outside the US-Europe axis, it is recommended to purchase dollars in cash.”
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
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