Trump's economic war against Turkey causes the dollar to soar.

SAO PAULO (Reuters) - The dollar jumped 1,6 percent on Friday, closing at its highest level against the real since mid-July, influenced by strong risk aversion in international markets due to concerns about the situation in Turkey.

With this session's progress, it registered a 4,23 percent increase for the week, almost completely erasing the 4,39 percent decline accumulated in the previous five weeks. The dollar futures contract was up about 1,65 percent.

"The movement of the Turkish lira is worrying virtually everyone," wrote the brokerage firm H.Commcor in a report. "Investors are activating 'panic mode' amid concerns about the solvency of that market," it added.

The dollar rose as much as 20 percent against the lira at its peak, amid concerns about President Tayyip Erdogan's influence on Turkey's monetary policy and worsening relations with the United States, which imposed further sanctions against the country.

Erdogan urged Turks to exchange gold and foreign currency for the lira to defend the currency in what he called a "national battle," while US President Donald Trump declared that his country's relationship with Turkey "is not good at the moment" and that he had authorized higher tariffs on Turkish imports.

As a result, the dollar rose sharply against a basket of currencies and also against currencies of emerging countries, such as the Chilean and Mexican pesos.

The strong aversion to global risk ended up momentarily overshadowing the Brazilian electoral scene after the first debate between presidential candidates last night, which was considered lukewarm.

The Brazilian Central Bank offered and sold in full 4,8 traditional currency swaps, equivalent to the future sale of dollars, rolling over $1,92 billion of the total $5,255 billion that matures in September.

If you maintain this daily offer and sell it until the end of the month, you will have completed the full rollover.