Opinion: Capital outflows from cryptocurrency purchases could affect Brazil's domestic exchange rate

On October 7th, although the outflow of cryptocurrency from Brazil is still relatively low and can be offset by other inflows, economists and analysts predict that if these outflows continue to grow, it will affect the domestic exchange rate in Brazil. Some people believe that this growth is related to Brazilians using cryptocurrency as a payment method. Stablecoins may have played a big role in this, as they have been welcomed by banks in Brazil, which use stablecoins for exchange business upon customer request. Nevertheless, some people also believe that given the high reported numbers, foreign companies may also be trying to use cryptocurrency.