A day after approaching R$5.20, the dollar lost strength and fell amid the first announcements by the transition team for the government of president-elect Luiz Inácio Lula da Silva. The stock market rose, boosted by shares in sectors that fell yesterday (7).
The commercial dollar closed this Tuesday (8) sold at R$ 5.144, with a fall of R$ 0.029 (-0.56%). The price started the day high, reaching R$ 5.23 in the first minutes of trading, but reversed the movement and started to fall during the morning. At the lowest of the day, around 2 pm, it reached R$ 5.13.
With today’s performance, the dollar accumulates a fall of 0.43% in November. In 2022, the currency drops 7.75%.
In the stock market, the B3 Ibovespa index closed at 116,160 points, up 0.71%, after operating close to stability several times throughout the day. The indicator was boosted by mining and retailer stocks, shares that had fallen on Monday.
Two factors brought relief to the financial market. On the domestic front, the announcement by the coordinators of the transition team for the future government dissipated yesterday’s tensions. This afternoon, the vice president-elect, Geraldo Alckmin, announced that the economic group will be coordinated by economists Pérsio Arida and André Lara Resende, creators of the Real Plan, and by economists Guilherme Mello and Nelson Barbosa (former Minister of Finance), linked to PT. Alckmin, however, did not release any clues about the future finance minister.
On the international scene, US stock markets rose for the third consecutive day and the price of iron rose in the international market. New news that China intends to ease restrictions against covid-19 boosted commodities (primary goods with international quotation), favoring emerging countries, such as Brazil.
*With information from Reuters
