In a day of high volatility in the financial market, the dollar closed close to stability and the stock exchange recovered and reduced losses after a significant drop in the early afternoon. Internal and external tensions contributed to the scenario.
The commercial dollar ended this Thursday (17) sold at R$5.402, up R$0.02 (+0.37%). The quotation operated under strong tension, reaching R$ 5.53 shortly after the opening of business, at 9:00 am. The US currency, however, ran out of steam and slowed down, closing at the low of the day.
With today’s performance, the dollar accumulates a high of 1.92% in November. In 2022, the currency drops 3.12%. Country risk, an indicator that measures the difference between the market rate on Brazilian foreign debt securities and US Treasury securities, closed at 915 points, up 0.75%. Since Monday (14), the indicator rose 1.32%.
In the stock market, the day was also marked by instability. The B3 Ibovespa index closed at 109,703 points, down 0.49%. The indicator dropped 2.6% around 1:30 pm, but recovered throughout the afternoon.
Internally, investors reacted, during the morning, to the delivery of the proposed amendment to the Constitution that provides for the removal of the federal spending cap on Bolsa Família. The version of the text delivered yesterday (16) to Congress increased the amount to be withdrawn from the limit.
In addition to the BRL 175 billion to maintain the BRL 600 value of Bolsa Família, the proposal included up to BRL 22 billion in excess revenue that could remain outside the ceiling to finance investments (public works and purchase of equipment). The account would rise to R$ 197 billion.
The lack of definition about the economic team also puts pressure on the market. At the end of the afternoon, former finance minister Guido Mantega announced the departure of the transition team. Soon after, the dollar reduced the high and the stock market slowed down the pace of decline.
Abroad, the dollar rose against the main global currencies after a director of the Federal Reserve (Fed, US Central Bank) declared that interest rates in the United States will continue to rise even if at a slower pace, to hold inflation in the largest economy in the world. planet. Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil.
*with information from Reuters
