The inflow of external flows attracted by high interest rates and the appreciation of commodities caused the dollar to fall for the third time in a row and close at the lowest level in more than two years. The stock market had a more tense day, with indecision about the command of Petrobras, and had a slight drop.
The commercial dollar closed this Monday (4) sold at R$ 4.608, with a fall of R$ 0.059 (-1.27%). After opening close to stability, the price operated lower throughout the day, in the range between R$4.60 and R$4.62.
The US currency is at its lowest level since March 4, 2020, a week before the World Health Organization declared the Covid-19 pandemic, when it had closed at R$4.58. In the first two business days of April alone, the dollar dropped 3.2%. In 2022, the currency accumulates a low of 17.36%.
The euphoria in the foreign exchange market was not repeated in the stock market. The B3 Ibovespa index closed at 121,279 points, down 0.24%. Despite a reaction during the afternoon, the indicator ended low pressured by the situation of Petrobras and by bank shares, which fell this Monday.
According to several newspapers and news agencies, economist Adriano Pires, appointed by President Jair Bolsonaro to head Petrobras, would have given up taking office due to conflicts of interest between the state-owned company and companies benefited by his consultancy. The news has not yet been officially confirmed, but the company’s shares fell 0.85% (common shares) and 0.94% (preferred shares).
The fall in the stock market was not greater only because the Ibovespa was benefited by the North American stock exchanges. Against the dollar, the US currency continues to fall due to two factors. The first is the high interest rates in Brazil, which attracts capital flows to emerging countries. The second is the appreciation of commodities (primary goods with international quotation) caused by the war between Russia and Ukraine, which is bringing more foreign exchange to countries exporting raw materials, such as Brazil.
* With information from Reuters
