Business

Credit card companies starts using dollar exchange rates on the day of purchase

Brazilians who using credit cards abroad will be able to more precisely estimate the cost of international purchases. The Central Bank’s determination (Circular nº 3918) that forces card operators to use the dollar quotation on the day of purchase – and no longer that on the invoice’s due date – came into effect on March 1st, to convert the amount into Brazilian Real. The change aims to give more predictability to consumers who use the card abroad or who make purchases on foreign websites.

Source: Jornal do Brasil