Dollar drops to R$ 5.16 still under Copom reflex

Dollar closes stable, sold at R$ 5.17, on a day of volatility

Still under the influence of the North American market, the dollar closed stable, after surpassing R$ 5.20 throughout the day. The stock exchange alternated ups and downs, but had a small gain, driven by the rise in the international price of oil.

The commercial dollar ended this Thursday (18) sold at R$ 5.172, up 0.08%. The price started the day low, falling to R$ 5.13 in the first minutes of trading. With the opening of the market in the United States, however, it skyrocketed, touching R$5.21 around 2:30 pm, to slow down near the end of negotiations.

The day was also marked by volatility in the stock market. The B3 Ibovespa index closed at 113,813 points, up 0.09%. The indicator rose during the morning, started to operate in the negative during the afternoon, and recovered close to the closing, with the help of Petrobras shares.

The state-owned company’s common shares (with the right to vote at a shareholders’ meeting) rose 1.32%. Preferred shares (with priority in the distribution of dividends) appreciated by 2.01%. This Thursday, Brent oil, used in international negotiations, rose 3.14%, reaching US$ 96.55 a barrel.

Since yesterday (17), the global financial market has been influenced by the Federal Reserve (Fed, US Central Bank) indications on future interest rates in the United States. The minutes of the most recent meeting highlighted that the Fed will reduce the pace of rate hikes to 0.5 percentage point at the next meeting. The document, however, indicates that interest rates should remain high for a long time to contain US inflation, which is at the highest level in 41 years.

Today, a regional Fed official reiterated that the agency intends to maintain rigor in the fight against inflation. Higher rates in advanced economies encourage capital flight from emerging countries such as Brazil, putting pressure on the dollar and the stock market.

*With information from ReutersDollar closes stable, sold at R$ 5.17, on a day of volatility

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