What is the difference between the “comercial”, the “turismo” and the “paralelo” dollar?
A technical explanation would be far too boring, plus I’m don’t have sufficient knowledge to deliver it. My approach will be more practical:
- dólar comercial: it’s the one used in trade, imports, exports, and financial operations. When you withdraw local currency from a Brazilian ATM the exchange rate that will be applied to you will be very similar to the one of the dólar comercial.
- dólar turismo: its exchange rate is applied to the purchase of dollars for tourism purposes. If you exchange money at a bank or bureau de change/currency exchange, the exchange rate that will be applied to you will also be the one of the dólar turismo. The exchange rate of the dólar turismo is also applied when a Brazilian buys a flight or a package holiday quoted in dollars.
- dólar paralelo: used in the black market. Its exchange rate appears on the press because of the importance of irregular operations carried out on a daily basis through black market operators (doleiros). The exchange rate of the dólar paralelo is of no interest to the tourist.
[Don’t forget there is a list of all the questions & answers published in the blog here]