Dollar drops to R$ 4.74 and reaches lowest value since the beginning of the pandemic

Dollar closes at R$ 5.0578, registering a strong fall this Friday

The dollar closed down sharply this Friday (13). The spot dollar dropped 1.65% this Friday (13), closing at R$5.0578, after varying between R$5.1503 (+0.15%) and R$5.0462 (-1, 87%). The closing level is the lowest since the 5th (R$ 5.0166).Dollar closes at R$ 5.0578, registering a strong fall this Friday

On the week, the dollar fell 0.31%, registering a high of 1.36% until Thursday. In May, it reduced gains to 2.31% and still retreated 9.25% year-to-date.

The currency’s decline was influenced by risks of a stronger tightening of US monetary policy and the effects on supply chains from new business closures in the world’s second-largest economy to contain coronavirus outbreaks.

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B3, the main index of the Brazilian stock exchange, rose this Friday and returned to record weekly gains after about a month and a half. Suzano and Petrobras were the main highs of the day. The Ibovespa rose 1.17%, closing at 106,924.18 points, the third consecutive high. As a result, the index ends the week with a gain of 1.7%, after five weekly lows. The financial volume of the session was R$ 27.1 billion.

Yesterday (12), the chairman of the Federal Reserve (Fed, the US central bank), Jerome Powell, reiterated the Fed’s intention to raise interest rates by 0.5 percentage point in the next meetings, reducing fears of an upward movement. more aggressive.

*With information from Reuters

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