Brazil Central Bank Expands Access to Foreign‑Currency Deposit Accounts

Overview

• The Banco Central published a resolution on Thursday that lets exporters, firms with external debt, companies with foreign equity and certain non‑resident entities open and use foreign‑currency deposit accounts in Brazil.
• The rule takes effect on October 1, 2026, after the central bank corrected an earlier notice and gave banks time to update systems, compliance and risk controls.
• The measure bars cash deposits and withdrawals, requires proof of origin for export receipts, and demands registration or verification of external credit and direct‑investment operations.
• Some transfers between eligible foreign‑currency accounts may proceed without separate FX contracts under existing rules, which the BC says will reduce conversion costs and speed cross‑border business.
• The change is part of the Marco Legal do Câmbio reforms and does not permit foreign currencies for domestic payments or change how the exchange rate is formed.