Countries › Brazil › Guide › 5. FX and capital controls › Pricing and paying in dollars inside Brazil: when foreign currency clauses are valid, netting and on lending of foreign funds

Pricing and paying in dollars inside Brazil: when foreign currency clauses are valid, netting and on lending of foreign funds

Argentina. For full detail on Argentina, go to The Argentine Thread.

Last verified: 2026-10-27 · Status: Stable

Contracts performed in Brazil must as a rule be paid in reais; a clause requiring payment in foreign currency is valid only in the cases listed in Lei nº 14.286, such as foreign trade, contracts with a non resident party, and leases funded from abroad. Leases of real estate in Brazil cannot be paid in foreign currency even with a non resident party. Private netting between residents and non residents is allowed only where Central Bank rules permit, and banks can pass foreign funding on to borrowers with the FX variation.

USD figures use the Banco Central do Brasil PTAX selling rate of R$5.5007 per US dollar for 26 October 2026, the last rate published before verification. Conversions are for orientation only; the rate on the day of each FX contract will differ.

Key facts

Foreign currency payment clauses between residents	Void, except listed cases Lei nº 14.286 art. 13, as of 2026-10-27 · in force
Foreign currency payment of leases of real estate in Brazil	Not allowed, even with a non resident party Lei nº 14.286 art. 13 II, as of 2026-10-27 · in force
Banco Central do Brasil PTAX selling rate, reais per US dollar	5.5007 BRLBanco Central do Brasil PTAX, as of 2026-10-26 · in force

The rule

1. Payment in foreign currency of obligations enforceable in Brazil is allowed for: (I) foreign trade contracts for goods and services, their financing and guarantees; (II) obligations where the creditor or debtor is non resident, including credit and leasing, except leases of real estate in Brazil; (III) leasing between residents funded from abroad; (IV) assignment, transfer, delegation, assumption or change of those obligations, even among residents; (V) purchase and sale of foreign currency; (VI) indirect exports; (VII) contracts between exporters and infrastructure concessionaires, permit holders, authorized operators or lessees; (VIII) cases set by the National Monetary Council where it mitigates currency risk or improves efficiency; and (IX) other cases in law. Foreign currency payment terms outside these cases are void.Lei nº 14.286, Art. 13 and sole paragraph, 2021-12-29 official text · verified 2026-10-27

2. Private netting of debts or amounts between residents and non residents is allowed in the cases set by Central Bank rules, and the Central Bank may require residents to report it.Lei nº 14.286, Art. 12 §§ 1 and 2, 2021-12-29 official text · verified 2026-10-27

3. Financial institutions and other Central Bank authorized entities may allocate, invest and lend funds raised in Brazil or abroad, in Brazil or abroad, under prudential rules.Lei nº 14.286, Art. 15, 2021-12-29 official text · verified 2026-10-27

4. Only financial institutions may raise funds abroad for on lending (repasse). The institution must pass the FX variation of the original foreign debt to the final borrower and may charge only a commission for intermediation.Resolução BCB nº 278, Art. 11 §§ 1 and 2, 2022-12-31 official text · verified 2026-10-27

5. Payments between residents and non residents that do not go through an FX contract, such as payments in reais through a non resident's reais account, still feed the Central Bank's capital records: they must carry the SCE code where required or be declared within 30 days.Resolução BCB nº 278, Arts. 21, 31 and 36, 2023-10-17 official text · verified 2026-10-27

Contract	Foreign currency payment	Item
Sale of goods to a foreign buyer	Allowed	I
Service agreement with a non resident supplier	Allowed	II
Intercompany loan from a foreign parent	Allowed	II
Office lease in São Paulo with a foreign landlord	Not allowed	II, exception
Lease between two residents funded by a foreign loan	Allowed	III
Supply contract between an exporter and an infrastructure concessionaire	Allowed	VII
Ordinary supply contract between two Brazilian companies	Not allowed unless a CMN or legal case applies	Sole paragraph

Can this contract be paid in foreign currency? (Lei nº 14.286 art. 13).

Worked example

A foreign investor's Brazilian subsidiary signs a ten year office lease with a resident landlord quoted at US$20,000 a month (R$110,014). The dollar payment clause is void because neither party is non resident and real estate leases in Brazil are excluded in any case (Lei nº 14.286 art. 13 II and sole paragraph). The parties can price in reais with an inflation index instead. A services agreement between the same subsidiary and its foreign parent may be denominated and paid in dollars (art. 13 II).

Step by step

1. Check each contract against the list in Lei nº 14.286 art. 13 before agreeing a foreign currency payment clause.
2. For contracts between residents that must track the dollar, use the CMN or statutory cases or price in reais.
3. If netting amounts with a non resident counterparty, confirm the Central Bank rules allow it and report it if required (art. 12).
4. Keep the economic and legal basis of every cross border payment on file for ten years (Resolução BCB nº 278 art. 4).

Common traps

Dollar leases. Leases of real estate in Brazil cannot be paid in foreign currency even with a non resident landlord (Lei nº 14.286 art. 13 II).
Assuming an onshore dollar account validates dollar contracts between residents. Account rules and contract rules are separate (art. 13; Resolução BCB nº 277 art. 75-B).
Netting intercompany balances without checking. Netting is allowed only in cases set by Central Bank rules (art. 12).

Sources

Related: Brazil country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

← FX penalties and enforcement in Brazil: blocked transfers, Central Bank fines and forfeitureIOF in Brazil: the tax on FX, credit, insurance and securities transactions, with the 2025 rates upheld by the Supreme Court →