Dollar rises to R$ 5.52, and the stock market closes at the lowest level in a year

Dollar drops to BRL 4.96 with lockdown relief in China region

The easing of social restriction measures in a region of China made the financial market have a day of truce this Wednesday (27). After rising about 8% in just three days, the dollar closed lower, despite having spent much of the day selling above R$5. The stock exchange interrupted a sequence of seven consecutive declines and rose more than 1%.

The commercial dollar ended this Wednesday sold at R$ 4.967, with a fall of R$ 0.023 (-0.47%). The price started the day high, reaching R$ 5.03 around 9:30 am, but reversed the movement in the early afternoon. After falling to R$4.93 due to the appreciation of commodities (primary goods with international quotations), the currency slowed down near the end of the negotiations, remaining below R$5.

With today’s performance, the dollar accumulates a high of 4.33% in April. In 2022, however, the currency drops 10.76%.

The day was also marked by the truce in the stock market. The B3 Ibovespa index closed at 109,349 points, up 1.05%. Shares in mining and steel companies rose sharply on relieving lockdown in the Chinese region of Tangshan, the main steel producer in the Asian country. Because of the advance of covid-19, several regions of China, such as Shanghai, are under social restriction measures.

The situation in China has brought relief to emerging countries and exporters of commodities, like Brazil. Despite the dollar having another day of high against the main currencies of the planet, the US currency fell against most currencies of emerging countries.

US stocks had a mixed day, after yesterday’s strong declines (26). The Dow Jones Industrial Companies Index closed up 0.19%. The S&P 500, of the top 500 companies, rose 0.21%. The Nasdaq of technology companies fell 0.01% after falling 3.95% yesterday.

*With information from ReutersDollar drops to BRL 4.96 with lockdown relief in China region

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