Is it time to buy US currency?

THE commercial dollar fell below R$ 5, this Thursday (2nd), for the first time since June. The American currency, which had already been retreating in recent weeks, accentuated this trend after the American central bank (Fed) slowed down the increase in interest rates at the same time that the Brazilian Central Bank signaled that it could return to raising interest rates here.

For those who have just returned from holidays abroad or have plans to travel abroad in the coming months, the drop in prices is a relief. After all, in the exchange rate for tourism, quotations follow the fall of the commercial dollar.

The experts’ recommendation, for those who will have expenses in foreign currency in the coming months, is to buy the dollar little by little to build the so-called “average price”, especially for those who do not need the money immediately.

By buying the dollar in different windows in time, the buyer takes advantage of different quotations and manages to protect himself from exchange rate fluctuations, one of the most unpredictable economic indicators.

The economist of the Brazilian Association of Financial Planners (Planejar), José Faria Júnior, evaluates the quote between R$ 5.05 and R$ 5.10 as a buying opportunity. Values ​​close to R$ 5.30, in turn, are considered expensive.

— At the current level, I think it’s interesting to buy. If you are going to travel in six months, you can purchase 30% of the total amount you will need. If the dollar falls further, you can buy some more. The best chance you have for individuals is to make a monthly purchase schedule. It’s no use trying to hit the currency trend.

The economist at Planejar emphasizes that people should not go into debt to buy the dollar just because the quotation is falling.

For those who are returning from abroad and have purchases in dollars due on their credit card, one option is to pay the invoice in advance. It is necessary to consult the bank and the credit card brand to check if this possibility is available.

vacation travel

For those planning to travel abroad in July, for example, this might be a good time to buy foreign currency.

If the purchase is made at once and very close to the trip, the buyer may be held hostage to the quote available at that time.

— The guidance that I always pass on to our customers is that whenever there are these more relevant drops, it is a window of opportunity, especially for those who are going to travel abroad — said the retail manager of Europa Câmbio, Paulo Victor Pereira.

In Europe Exchange, a first estimate shows an increase in sales of 30% in January this year compared to the same month of the previous year.

Planning

Since 2006, retired couple Josias Azevedo, 62, and Gladys Hoffmann, 60, travel annually. The two, who have traveled to 30 countries together, now plan to visit family in Australia. With the trip scheduled for February 18th and four stops planned to take place in the United States, they still need to buy the US and Australian dollars.

— We usually buy at an exchange office in Copacabana, but this time, the tendency is for us to buy most of it online and travel with a debit card, because the quotation is lower — said Azevedo: — Every day we look the value of the dollar. Recently, even, the American dropped, but the Australian, on the other hand, increased.

There are several ways to buy foreign currency, with different rates. According to Pereira, the choice must be made according to the objectives of the purchase and the amount to be purchased.

For the purchase of the dollar, the tax on financial operations (IOF) is 1.10% in currency. On prepaid or credit card purchases, the tax is 5.38%.

allowed amount

Since the 30th of December, Brazilians can carry up to US$ 10,000 in cash or the equivalent in another foreign currency without the need to declare it to the Federal Revenue when traveling outside Brazil. Previously, the maximum limit was R$ 10,000.

— It will depend a lot on the objective, but I recommend diversifying the portfolio and not being 100% focused on a single product. Whoever is going to spend a longer period of time, opening an account abroad and making the transaction between accounts with larger volumes may be a better option – emphasizes the manager of Europa Câmbio.

Fintechs and digital banks also offer dollar or euro bank account to Brazilians and are another option for those who intend to travel.