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Brazil’s Central Bank updates rules to allow international transfers of up to US$10,000

RIO DE JANEIRO, BRAZIL - Transfers can be made between the same client's accounts in Brazil and abroad, as well as to third parties. For the latter, the requirement is that the funds must be used for "current expenses," such as maintenance abroad, retirement, pensions, and donations.

Currently, typical eFX service providers, as denominated by the Central Bank, are international payment facilitators and card companies, for instance. The institution expects that there will be an increase in their use after allowing transfers up to US$10,000.

Another change facilitates sending and receiving international funds by credit card. The goal . . .

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