The dollar keeps landing in Brazil.

Brazil is experiencing a flood of dollars into its economy. Between January 1, 2001, and last Friday alone, more than US$30 billion entered the country, US$6 billion more than in the entire previous year. The average daily inflow in March reached US$1,06 billion, the highest daily average this year. In January, the average daily inflow reached US$738 million, and in February, it totaled US$205 million. This information comes from the Central Bank and increases the pressure on the Ministry of Finance to adopt measures against a further appreciation of the real. Curiously, the announcement of the dollar influx comes a day after Finance Minister Guido Mantega announced the postponement of a series of actions to contain the devaluation of the dollar against the real. The government believes that Friday's economic crisis caused instability in the global economic scenario and, therefore, it would be reckless to announce any measures at this time.

The exchange rate is cited as one of the major challenges of President Dilma Rousseff's term. The devalued dollar stimulates imports, reduces exports, and provokes fears of deindustrialization in the country. Despite this, so far, indicators show that the potential effects of this situation have not yet manifested themselves. On Tuesday, the Ministry of Labor announced a record number of jobs created in February. The trade balance has also shown larger surpluses than last year.

The government has adopted several measures in the past to curb the inflow of dollars into Brazil. Last October, the government increased the IOF tax on foreign investments in fixed income from 2% to 6%, in addition to raising the tax on margins in futures market operations. None of this stopped the appreciation of the real.