With the globalization of business and the development of technology there has been an increase in the number of contracts entered into in a foreign currency. From the legal stance, however, the use of a foreign currency in agreements is not entirely accurate.
The Brazilian Civil Code determines that payments either in gold or in a foreign currency are null and void; as it is any kind of indexation for the payment of a foreign currency into the domestic currency, except in the cases provided for in the special legislation.
Nonetheless, the Brazilian jurisprudence has some peculiarities in the understanding of this restriction. Read More.