On a day of turbulence in the financial market, the dollar reached R$5.70 and reached its highest level since the beginning of August. The Stock Exchange (B3) had its second consecutive drop, influenced by the decline in oil prices and the expectation of an increase in interest rates.
The commercial dollar ended this Friday (18) sold at R$5.698, up R$0.039 (+0.68%). The price opened at a low, but reversed the movement and started to rise in the first hour of trading. At the high of the day, around 4:40 pm, the price reached R$5.70.
The North American currency is at its highest value since August 5th, when it was R$5.74. The currency accumulated an increase of R$0.25 (+4.61%) in October and rose 17.41% in 2024.
In the stock market, the day was also unstable. B3’s Ibovespa index closed at 130,499 points, down 0.22%. The indicator rose 0.71% at 10:16 am, but slowed down and entered negative territory in the first hour of trading, driven by shares of oil companies, influenced by the fall in oil on the international market and by shares of companies linked to consumption, influenced due to the expectation of an increase in interest rates.
China
Domestic factors weighed more today than the international scenario. The dollar fell against the main currencies of emerging countries after the announcement that China’s economic growth in the third quarter slightly exceeded expectations.
In the domestic scenario, the dollar and the stock market were pressured by investor distrust regarding the increase in federal spending. This week, the government sent a project to Congress that excludes revenues from state-owned companies dependent on the Treasury from the federal budget and another that allocates R$4 billion from the National Civil Aviation Fund to help airlines.
The government’s indications that the economic team will send a package of mandatory spending cuts did not calm investors. In recent days, the Minister of Planning, Simone Tebet and the Minister of Finance, Fernando Haddad reported that they will send an expenditure review package after the second round of municipal elections.
* With information from Reuters.
