Following Brazilian tax legislation, exchange transactions define the IOF rate charged according to the purpose of sending the amounts to another country.
If the objective is to invest, the IOF applied to the transaction will be 0.38%. You must invest the amount of this type of exchange to fulfill the transaction's purpose.
If you send the amount for availability in a checking account, the IOF tax will be 1.1%.
In this case, you can use the amount as you wish, whether for purchases, withdrawals, or transfers.