On a day of waiting for decisions on interest rates in Brazil and the United States, the financial market had a mixed performance. The dollar fell to the lowest level in five months, and the stock exchange retreated, pressured by mining companies, state-owned companies and banks.
The commercial dollar ended this Wednesday (1st) sold at R$ 5.061, down R$ 0.016 (-0.32%). The quotation had a volatile day, falling in the morning, rising in the afternoon and falling after the Federal Reserve (Fed, US Central Bank) announced the increase in basic interest rates in the United States by 0.25 percentage points.
The US currency is at its lowest price since August 29, when it ended sold at R$5.03. The currency accumulates a drop of 4.15% in 2023.
The optimism in the foreign exchange market was not reflected in the stock market. The B3 Ibovespa index closed at 112,074 points, down 1.2%. The indicator, which fell 2.36% around 2:30 pm, recovered after the Fed’s decision, but not at a sufficient pace to reverse the day’s decline. Shares in oil companies, mining companies and banks led the fall.
The financial market experienced a day of expectations regarding the Fed’s decision, which raised US basic interest rates by 0.25 percentage points, after four consecutive hikes of 0.5 points. The slowdown makes the dollar fall across the planet, benefiting emerging countries like Brazil.
Domestically, investors await the results of the elections for the leadership of the Chamber of Deputies and the Senate and the decision of the Monetary Policy Committee (Copom). Shortly after the stock exchange closed, the Brazilian Central Bank announced the maintenance of the rate at 13.75% per annum.
*With information from Reuters
