Brazil’s Central Bank Expands Foreign Currency Account Access for Exporters and Foreign-Owned Firms

The Central Bank of Brazil (BCB) is taking a major step to further integrate the country’s financial system with global markets, publishing new rules that significantly expand the number of entities permitted to hold foreign currency deposit accounts in Brazil. BCB Resolution No. 575, enacted on June 18, 2026, amends Brazil’s foreign exchange framework to reduce costs and increase operational efficiency for companies with international exposure, and will take full effect on October 1, 2026. This modernization effort aims to streamline cross-border transactions, a persistent complexity for businesses operating in and out of the country.

The most immediate beneficiaries of the new regulation are Brazilian exporters and firms with close ties to foreign capital. The expanded list of eligible entities now includes legal entities that export goods, resident companies with foreign debt, companies with direct non-resident equity participation in their capital, and non-resident entities involved in external credit or foreign direct investment transactions within Brazil. Previously, access to foreign currency accounts was largely limited to financial institutions, embassies, and a small number of firms in specific sectors.

For these new account holders, the ability to hold revenues or capital in the currency it was earned or borrowed—such as U.S. dollars or Euros—greatly simplifies cash flow management. An exporter receiving payment in dollars can now retain those funds to meet a foreign-denominated expense, debt obligation, or investment without being forced to convert the funds into the Brazilian real and then back into foreign currency for a subsequent transaction. The resolution also explicitly provides an exemption from the requirement to conduct a foreign exchange transaction for transfers between foreign currency accounts, further simplifying the process and reducing the associated costs.

The move is central to the BCB’s long-running strategy of foreign exchange modernization, aligning Brazil’s rules with the growing international nature of its economy. However, the measure does not signal a broader liberalization of currency for domestic use. The resolution strictly maintains the existing prohibition on using foreign currency for payments within Brazil, ensuring the real remains the exclusive legal tender for everyday transactions. The new accounts also carry specific regulatory safeguards, including a ban on cash withdrawals and deposits, to ensure proper controls and risk management.

The new regulations are scheduled to enter into force on October 1, 2026, granting financial institutions authorized to operate in the foreign exchange market a runway to adapt their systems and procedures to the newly broadened scope of eligible clients. The implementation of BCB Resolution 575 will be closely watched by companies engaged in international trade and cross-border finance, who stand to see notable efficiency gains from the new framework.