In another day of turmoil in the financial market, the dollar approached R$ 5.65 and ended October with an increase of almost 4%. The stock market had its second consecutive day of decline and remains at its lowest level since November last year.
The commercial dollar ended this Friday (29) sold at R$ 5.646, with an increase of R$ 0.021 (0.37%). The price dropped to R$ 5.60 shortly before 4 pm, but rose again towards the end of business.
The currency closed October up 3.67%, after rising 5.30% in September. In 2021, the currency has appreciated by 8.82%.
The day was also tense in the stock market. The Ibovespa index closed the day at 103,501 points, down 2.09%. The indicator is at its lowest level since November 12 last year.
This Friday’s fall was driven by Petrobras shares, after President Jair Bolsonaro’s statement that he is seeking a way to change the law to interfere in the company’s pricing policy. Ordinary shares (with the right to vote at the shareholders’ meeting) fell 6.49%. Preferred shares (with preference in the distribution of dividends) dropped 5.9%.
With today’s performance, the stock market ended October with a drop of 6.74%. This was the fourth consecutive month of decline in the Ibovespa index. In 2021, the indicator accumulates a loss of 13.04%.
The tensions surrounding the proposed amendment to the Constitution (PEC) which splits the precatories and changes the calculation of the spending ceiling continued to dominate the session. Today the Ministry of Economy announced that the approval of the PEC would release R$ 91.6 billion in 2022. The impact is greater than what was initially disclosed by the government and by parliamentarians, who projected the release of R$ 83.6 billion.
In relation to the exchange market, the rise of the dollar is not only due to internal factors. The US currency rose against the main currencies of the world, even against the euro. Today, the real has lost less value than the Mexican peso and the South African rand.
* With information from Reuters
