Benefited by the foreign market and with the expectation around the increase in interest rates in Brazil, the dollar closed below R$ 5.30 for the first time in four months. The stock market rose for the second day in a row and reached the highest level since mid-October.
The commercial dollar ended Tuesday (1st) sold at R$ 5.273, with a decrease of R$ 0.033 (-0.62%). The price fluctuated in the first hour of trading, reaching highs around 10:30 am, but reversed the movement and began to fall until closing close to the low of the day.
This was the fourth straight session for the dollar to fall. With today’s performance, the currency accumulates a drop of 5.43% in 2022. Since reaching R$ 5.71, on January 5, the US currency has fallen 7.69%. Since yesterday (31), the commercial euro has been selling below R$6. This Tuesday, the euro price closed at R$5.933, the lowest level since June 29 of last year.
The day was also marked by optimism in the stock market. The B3 Ibovespa index closed at 113,228 points, with a gain of 0.97%. The rise was driven by companies in the commodities sector, which benefited from the appreciation of oil and iron ore in the international market. The exchange accumulates appreciation of 1.18% in the week and 8.02% in 2022.
The market is waiting for the meeting of the Central Bank Monetary Policy Committee (Copom), which started today (1st) and ends tomorrow (2nd). Financial institutions expect the Selic rate (basic interest rates in the economy) to be raised to 10.75% per year, reaching double digits for the first time in five years.
Higher interest rates in Brazil help the country to prevent capital migration to advanced economies. In the foreign market, the day was once again calm. Although the Federal Reserve (Fed, US Central Bank) confirms that it will increase basic interest rates in the United States as of March, some investors understand that the effect of the monetary tightening is priced (incorporated into prices) for assets from emerging countries. .
*With information from Reuters
