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SDDS
Special Data
Dissemination Standard

Date of last update: 7/27/2011

EXCHANGE RATES

Category Provider's Data

Contact Person

Alan da Silva Andrade Mendes

Organization

Banco Central do Brasil, Departamento de Operação das Reservas Internacionais, Divisão de Câmbio
SBS Qd.3, Ed. Sede, Bl. B, 5º andar
Brasília (DF) - Brasil
CEP 70.074-900

Phone Number

55 61 3321-7477

Fax Number

55 61 3414-3248

E-mail

dicam.depin@bcb.gov.br

 

Description
The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

Data are published on:
  1. The reference exchange rate for the US dollar, known in the market as the PTAX rate, which is the arithmetic average of four daily requests from foreign exchange dealers for bid/offer rates.
  2. Daily par values of the real in relation to 132 currencies, gold and units of account of international organizations, including SDRs. The par value is calculated on the basis of the prices of these currencies in relation to the U.S. dollar quoted by Bloomberg or Reuters, and the PTAX rate for the U.S. dollar.

Bid and offer rates of spot prices are published.

Periodicity

Daily for the PTAX.

Timeliness

Soon after the last bulletin is published (after 13:00, Brasília time).
Access by the Public

Advance dissemination of release calendar

Not applicable. Data are published on a daily basis.

Simultaneous release to all interested parties

The relevant information is published on the Central Bank of Brazil page on the Internet:

http://www.bcb.gov.br/?EXCHANGERATES

Data are also released through the Central Bank Information System (SISBACEN), which can be freely accessed using the access program available for download at (pages in Portuguese):

http://www.bcb.gov.br/?SISBACEN

Integrity

Dissemination of terms and conditions under which official statistics are produced, including those relating to confidentiality of individual responses

The Central Bank of Brazil compiles and publishes monetary and financial statistics pursuant to the legislation in force, specifically the Law establishing the Central Bank (Law Nr. 4595 of Dec. 31st, 1964) and the National Monetary Council resolutions, governing the generation and release of data and information, in particular with regard to the confidentiality of data.

The Central Bank guarantees the confidentiality of the data in observance of the established in Article 38 of the Law Nr. 4595.

The Law Nr. 4595, the National Monetary Council resolutions, and other rules issued by the Central Bank of Brazil, as well as other legislation, can be found in Portuguese on the Central Bank's Internet page:

http://www.bcb.gov.br/?BUSCANORMA

These laws are available to the public in Portuguese at the Internet page of the Presidency of the Republic, under search of decrees and laws:

http://www.planalto.gov.br

Identification of internal government access to data before release

Authorities outside the Central Bank are not apprised of information before it is released through Central Bank Information System (SISBACEN).

Identification of ministerial commentary on the occasion of statistical releases

No commentary is attached to the release of the data.

Provision of information about revision and advance notice of major changes in methodology

The data are final when first released.

The methodology used now has been introduced on July 1st, 2011 and is significantly different from the previous one, which used the weighted average of interbank contracts to calculate the reference exchange rate. The change was first announced with the publication of the new regulation for the matter, Circular 3506, on September 23rd, 2010.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

The methodology is regulated in the "Circular 3506", published on September 23rd, 2010, and "Circular 3537", published on May 25th, 2011, which can be found in Portuguese at:

http://www.bcb.gov.br/?BUSCANORMA

Use:

  • document number: 003506 or 003537
  • type of document: Circular

Press: pesquisa

Dissemination of component detail, reconcilliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness

The Central Bank Foreign Exchange Bulletins are available only on the Internet and contain the daily and the monthly exchange rate series since 1985 at:

http://www.bcb.gov.br/?EXCHANGERATES

The four Central Bank bulletins are also released through SISBACEN every day soon after 10:00; 11:00; 12:00 and 13:00. After the last bulletin is calculated, the closing bulletin (Boletim de Taxas de Câmbio) with the PTAX rate (as specified in "The Data: Coverage, Periodicity, and Timeliness") is released.

The bulletins (Boletim de Taxas de Câmbio) give also the par value of the real in relation to 10 other major currencies, whose price in US dollars are obtained from Bloomberg or, if not available there, from Reuters or another agency that publishes market prices.

The bulletins (Boletim de Taxas de Câmbio) are published on the electronic system (SISBACEN), which can be freely accessed on the Internet using the access program available for download at (pages in Portuguese):

http://www.bcb.gov.br/?SISBACEN

Notes

Summary page on observance and transition plan

 

Dissemination Formats
Hardcopy
    News release  
    Weekly bulletin  
    Monthly bulletin  
    Quarterly bulletin  
    Other  
Electronic media
X X On-line country bulletin board or database Information on the PTAX bid and offer rate, and the intermediate bulletins (Boletim de Taxas de Câmbio) of the Central Bank are available on line in Portuguese on Central Bank Information System (SISBACEN).

Proper software for accessing SISBACEN is free of charge and can be downloaded from (pages in Portuguese):

http://www.bcb.gov.br/?SISBACEN

Aditional information can be obtained on Central Bank's website.

  X Internet address http://www.bcb.gov.br/?EXCHANGERATES

The prices of 132 currencies and gold (PTAX rate) in the format of one currency in a given period and all currencies on a given date, as well as a table with the characteristics and codes of the currencies in question, can be obtained on this site.

    Diskette  
    CD ROM  
    Other  

 

Summary Methodology
Analytical framework, concepts, definitions, and classifications (including reference to applicable guidelines)
Four times daily, the Central Bank authorized foreign exchange dealers must inform bid/offer rates for the exchange rate for the U.S. dollar – between 10:00 and 10:10 for the 10:00 bulletin; between 11:00 and 11:10 for the 11:00 bulletin; between 12:00 and 12:10 for the 12:00 bulletin; and between 13:00 and 13:10 for the 13:00 bulletin. For each bulletin, the published bid/offer rates are the average of the bid/offer rates informed by the dealers, excluding the two highest bid rates and the two highest offer rates and two lowest bid rates and the two lowest offer rates. The reference exchange rate for the U.S. dollar, known on the market as the PTAX rate, is the arithmetic average of these four bid/offer rates.

The par values of other currencies and units of account in relation to the real are determined based on the price of these currencies in U.S. dollars published by Bloomberg or Reuters at 10:00; 11:00; 12:00 and 13:00, and the PTAX rate for the U.S. dollar, determined as indicated in the preceding paragraph.

Scope of the data (coverage of, e.g., institutional units, transactions and stock, commodities, industries, and geographic areas)
In addition to the U.S. dollar exchange rate, par values for 132 other currencies, gold and units of account of international organizations, specifically the currencies of the G-7 countries, the European Union, and MERCOSUR; special drawing rights; and the unit of value of the Bank and of the African Development Fund.

The rates used to calculate the PTAX are obtained through four daily requests from foreign exchange dealers for bid/offer rates.

Accounting conventions (e.g. time of recording, valuation methods)
The PTAX rate is calculated daily, after the last bulletin is calculated (after 13:00, Brasília time).
Nature of the basic data (e.g., administrative records, surveys censuses, combinations of these)
The database is made up of the rates informed by the Central Bank authorized foreign exchange dealers.
Compilation practices (e.g., weighting schemes, imputation methods, balancing/cross-checking techniques)
The PTAX rate is the arithmetic average of the four bulletins published daily as described in Analytical framework, concepts, definitions, and classifications (including reference to applicable guidelines) above.
Other aspects (e.g., seasonal adjustment, disclosure avoidance, base years, reference years, transformations from fiscal to calendar years)
In the calculation of the PTAX rate there are no adjustments or conversions, except for those described above.