The banking system in Brazil, as well as their economy as a whole, is one of the fastest growing in the entire world. The Brazilian banks offer some excellent investment and income growth opportunities. However, no opportunity is free of risk. That's why it's important to research the Brazilian banks prior to making any transactions. Key terms within the industry are an excellent place to initiate this research. These terms help establish a solid knowledge on which to build Brazilian banking expertise. Below is a list of these key terms that'll start you on your way.
Central Bank of Brazil
The Central bank of Brazil is a governmental institution that's responsible for monetary issuance and policy, the stability of financial system and the regulatory structure of the banking system. The Central Bank of Brazil is very similar in function and purpose to the Federal Reserve in the United States.
The Itaú BBA bank is one of the largest banks that specialize in foreign banking activity. The Itaú BBA will walk you through the banking and business in Brazil.
Rabobank International Brazil
The Rabobank International Brazil bank is a local bank with an international presence. The bank specializes in the food and agribusiness sectors but has services available for all customers.
Brazilian-American Chamber of Commerce
The main purpose of the Brazilian-American Chamber of Commerce is to facilitate banking and commerce between U.S. companies and the country of Brazil. If you have any banking questions or concerns, this is the agency to contact.
The Brazilian real is the main currency within the country. The Brazilian real equates to 100 centavos. Usually the fluctuations in currency valuation lead to instability in the banking system. That's why it's important to monitor the currency valuation of the Brazilian real relative to other major currencies such as the United States dollar.