Reuters: US Dollar Report: UPDATE 1-Brazil posts March current account gap of $3.3 bln

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UPDATE 1-Brazil posts March current account gap of $3.3 bln Apr 24th 2012, 14:15 Tue Apr 24, 2012 10:15am EDT * March current account deficit smaller than expected * 12-month deficit equal to 1.98 pct of GDP * Foreign direct investment totals $5.89 bln in March BRASÍLIA, April 24 (Reuters) - Brazil posted a current account deficit of $3.320 billion in March, central bank data showed on Tuesday, smaller than analysts' expectations. Brazil had been expected to post a deficit of $4.2 billion, according to the median forecast in a Reuters survey. Brazil's current account deficit in February was $1.76 billion, the central bank said last month. The current account, the broadest measure of a country's foreign transactions, indicates how reliant an economy is on financing from foreign capital. Strong capital inflows from foreign investors have helped Brazil to cover its current account deficit in recent months. Latin America's largest economy attracted $5.89 billion in foreign direct investment in March, the central bank said, up from $3.648 billion in February, reported previously, and $5.433 billion in January. The current account deficit in the 12 months through March amounted to 1.98 percent of the country's gross domestic product, the central bank said, down from a previously reported 2.09 percent in February. Link this Share this Digg this Email Reprints

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