The milder tone of the US Central Bank contributed to the dollar approaching R$5.10 and closing at the lowest value since the end of July. The stock exchange recovered 115,000 points and reached the highest level in five months, driven by the foreign market and Petrobras.
The commercial dollar closed this Wednesday (16) sold at R$ 5.128, with a decrease of R$ 0.053 (-1.02%). The price operated lower throughout the session and closed at the low of the day.
The US currency is at its lowest level since July 29 last year, when it sold at R$5.08. With today’s performance, the dollar accumulates a fall of 3.33% in February and 7.98% in 2022.
The day was marked by gains in the stock market. The B3 Ibovespa index closed this Wednesday at 115,181 points, up 0.31%. This is the seventh consecutive increase for the stock market, which has had the best streak of gains since June last year. The indicator is at the best level since September 15th.
After accumulating drops in the last two days, Petrobras shares, the most traded on the Brazilian stock exchange, recovered today and made the Ibovespa close higher. Ordinary shares (with voting rights at shareholders’ meetings) rose 2.2%. Preferred shares (with priority in the distribution of dividends) appreciated by 1.39%.
The minutes of the last meeting of the Federal Reserve (Central Bank of the United States) benefited the financial markets in almost all the planet. The mild tone of the document indicates that the US monetary authority should increase interest rates in the largest economy on the planet smoothly from March onwards. A strong increase of 0.5 percentage point would stimulate capital flight from emerging countries such as Brazil.
In addition to external factors, the rise in the Selic rate (basic interest rates) in Brazil is contributing to the inflow of foreign flows. At the last meeting, the Monetary Policy Committee (Copom) raised the Selic rate to 10.75% per year, the highest level since July 2017. In the futures market, real interest rates (interest rates minus inflation expectations for 2022) are at 6.8% per year, after two years in the negative. Higher interest rates in emerging countries help to contain the flight of resources to advanced economies.
*With information from Reuters
