Dollar closes at its highest value in almost six months.
The commercial dollar closed this Thursday (1st) sold at R$ 3,468, with an increase of R$ 0,081 (2,4%); the exchange rate closed at its highest level since June 16 (R$ 3,47); while the Ibovespa index, of the São Paulo Stock Exchange, fell 3,88%, closing at 59.507 points; at its lowest level since the end of September, the indicator had its biggest daily drop since February 2, when it had plummeted 4,87%.
Wellton Máximo, from Agência Brasil - On a turbulent day in the financial market, the US dollar approached R$ 3,50 and the Stock Exchange had its biggest daily drop in ten months. The commercial dollar closed this Thursday (1st) sold at R$ 3,468, with an increase of R$ 0,081 (2,4%). The exchange rate closed at its highest level since June 16 (R$ 3,47).
The Ibovespa index, from the São Paulo Stock Exchange, fell 3,88%, closing at 59.507 points. At its lowest level since the end of September, the indicator had its biggest daily drop since February 2nd, when it plummeted 4,87%.
The dollar traded higher throughout the session, but the exchange rate surged during the afternoon. At its peak for the day, around 15:30 PM, the currency reached R$ 3,48. For the seventh consecutive session, the Central Bank (BC) did not intervene in the exchange market and did not conduct currency swap auctions, operations equivalent to selling dollars in the futures market.
Regarding the Stock Exchange, Petrobras shares, the most traded, fell 1,41% (ordinary shares, with voting rights at shareholder meetings) and 3,5% (preferred shares, with preference in dividend distribution). The biggest losses, however, were recorded in financial institutions. Banco do Brasil shares fell 6,6% (ordinary shares) and 5,58% (preferred shares).
The financial market experienced a tense day after the Central Bank's Monetary Policy Committee reduced the economy's basic interest rate by 0,25 percentage points, to 13,75% per year. Conversely, the Federal Reserve (the United States' central bank) will meet on the 13th and 14th of this month and may raise interest rates in the world's largest economy due to expectations of increased public spending under the US president-elect, Donald Trump.