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April 29, 2022
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Dollar drops to R$4.94 with improvement in the international market

Dollar drops to R$ 4.74 and reaches lowest value since the beginning of the pandemic

In another day of volatility, the dollar fell after surpassing the R$5 barrier in the morning. The stock market rose for the second time in a row, driven by the recovery of the North American market and the softening of the lockdown in regions of China.Dollar drops to R$4.94 with improvement in the international market

The commercial dollar ended this Thursday (28) sold at R$ 4.94, with a fall of R$ 0.027 (-0.55%). The price started the day high, reaching R$ 5.04 at the highest of the day, around 12:00. During the afternoon, the currency reversed the movement, as investors took advantage of the high price to sell the currency and the external market improved.

With today’s performance, the commercial dollar is up 3.75%. In 2022, the US currency drops 11.41%.

In the stock market, the day was also marked by recovery. The B3 Ibovespa index closed at 109,919 points, up 0.52%. The indicator even dropped during the morning, but operated in positive territory during the afternoon.

Mining and steel company stocks pushed the Ibovespa higher, as the easing of lockdown in China’s main steel-producing region indicates the possibility that the worst phase of the expansion of covid-19 in the Asian country is coming to an end. This raised the price of commodities (primary goods with international quotation) all over the planet, benefiting mineral exporting countries, such as Brazil.

Regarding the North American market, bets that the United States can tighten the pace of interest rate hikes have cooled after the announcement that the Gross Domestic Product (GDP) of the United States fell 1.4% in the first quarter of this year. This stimulated the recovery of US stock exchanges, creating a positive effect that extended to international markets.

The Dow Jones Industrial Companies Index rose 1.85%. The S&P 500, of the 500 largest companies, gained 2.47%. The Nasdaq, the index of technology companies, jumped 3.06%. In addition to the North American GDP, part of the investors went back to buying shares, which became cheap after the drops of the last few days.

*With information from the Reuters agency.

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