Brazil’s Central Bank Reports R$119.97 Billion Net Loss for 2025

Overview

• The National Monetary Council approved the audited 2025 result on February 26, confirming a net loss of R$119.97 billion.
• Exchange-rate effects produced R$150.26 billion in losses on reserves and FX derivatives following an 11.18% drop in the dollar.
• The Central Bank posted a R$30.29 billion operating profit, which will be transferred to the National Treasury within ten business days under 2019 rules.
• The exchange losses were absorbed by the Bank’s accumulated FX results reserve, which declined from R$263.08 billion to R$112.82 billion.
• No Treasury coverage was needed for the loss because the reserve buffered the result, contrasting with a R$270.9 billion profit in 2024.