Brazil posts $494mn current account deficit in March

SAO PAULO: Brazil posted a current account deficit of $494 million in March, the central bank said on Thursday, narrowing from a deficit of $994 million in February but defying expectations of a surplus.

The average forecast in a Reuters poll of economists was for a current account surplus of $500 million in the month.

Foreign direct investment fell to $6.8 billion in March, down from $8.4 billion in February and below the $8.0 billion average estimate.?Reuters