The announcement of economic stimulus in China brought a day of respite to the financial market. The dollar fell to below R$5.50 after two consecutive increases. The stock market broke a sequence of five falls and rose more than 1%.
The commercial dollar closed this Tuesday (24) sold at R$5.463, with a drop of R$0.058 (-1.3%). The price started the day close to stability, but plummeted in the first hour of trading. At the lowest point of the day, around 11:15 am, it fell to R$5.44.
With today’s performance, the currency has accumulated a drop of 3.02% in September. In 2024, however, the currency will rise 12.57%.
The stock market was marked by recovery on the day. The Ibovespa index, from B3, closed at 122,156 points, up 1.22%. Shares of mining companies, oil companies and companies linked to the metal sector led the rise, following the announcement of strong economic stimulus by the Chinese government.
The global market reacted to China’s strongest economic stimulus since the COVID-19 pandemic. On Tuesday, the Asian country’s central bank announced a half-point cut in the reserve requirement rate, the amount of money that banks are required to deposit with the monetary authority. The decision injected US$142 billion into the economy.
China’s decision mainly benefits emerging countries, such as Brazil. This is because the Asian country is the largest consumer of commodities (primary goods with international quotation) of the planet.
*With information from Reuters
