International investors withdrew over US$8 billion in capital from Brazil in August, signaling a sharp shift in sentiment that has placed immediate pressure on the value of the Brazilian Real (BRL). Data up to August 28th shows Brazil registered a total negative foreign exchange flow of US$3.095 billion for the month, a reversal of the net inflows seen in July. The deficit was driven almost entirely by a net financial outflow of US$8.014 billion, which accounts for portfolio investment leaving the country, as well as profit and dividend remittances by foreign companies.