Brazil September FX outflow hits US$5.09B, worst since 2019

Brazil's exchange flow posted a US$5.09B net outflow in September, the largest for that month since 2019, driven by a US$7.37B financial-account deficit partially offset by a US$2.28B trade surplus. The data signals sustained capital flight amid global risk aversion and domestic uncertainty, pressuring the BRL and complicating the central bank's policy stance.