BRASILIA: Brazil's current account deficit widened more than expected in October, but a jump in foreign investment easily covered that gap, central bank data showed on Thursday.
Brazil posted a current account deficit of $5.431 billion in October, larger than the median forecast of $4.8 billion in a Reuters poll of 17 economists.
Brazil's current account deficit, a broad measure of a country's foreign transactions including trade in goods and services but also profit remittances and interest payments, had totaled $3.157 billion in October of last year.
The current account deficit in September was $2.6 billion, the central bank said last month.
Foreign direct investment in Latin America's largest economy was $7.7 billion in October, up from $4.4 billion in September and more than the expected $6 billion.
A strong flow of foreign investment in Brazil despite the weak global economy has so far helped cover the country's current account gap this year.
Earlier this month, the trade ministry reported that Brazil's trade surplus narrowed to $ 1.662 billion in October despite a 10 percent drop in the country's currency, the real against the dollar, so far this year.
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