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Central Bank May Allow Dollar Accounts in Brazilian Banks

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - The chairman of the Brazilian Central Bank, Roberto Campos Neto, announced on Wednesday May 29th a series of actions that the bank should take to improve the business environment in the country, reduce bureaucracy and stimulate productivity.

The measures are part of the so-called BC# agenda.

Among them is a draft bill that would be sent to Congress to simplify foreign exchange legislation. One of the points in the project would allow dollar-denominated bank accounts in Brazil and also facilitate banks in other countries holding accounts in Brazilian Reais . . .

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