On a day of euphoria in the international market, the dollar closed below R$ 5.10 and fell to the lowest value in almost three months. The stock exchange surpassed 114 thousand points and reached the highest level since the beginning of November.
The commercial dollar ended this Wednesday (25) sold at R$5.08, down R$0.062 (-1.22%). The quotation opened close to stability, but began to plummet after the opening of the North American market. At the low of the day, around 4:15 pm, it reached R$ 5.07.
The US currency is at its lowest value since November 4, when it was at R$5.05. The currency accumulates a drop of 2.46% this week alone. In 2023, the decline reaches 3.79%.
In the stock market, the day was also marked by euphoria. The B3 Ibovespa index closed at 114,270 points, up 1.1%. The indicator is at its highest level since November 8, when it still reflected the results of the presidential election.
Despite São Paulo’s anniversary municipal holiday, the financial market functioned normally this Wednesday. The trading session was influenced by the relief in the external scenario, with foreign investors transferring resources to emerging countries, such as Brazil, with the perspective that the Federal Reserve (Fed, US Central Bank) will slow down interest rate hikes.
In recent days, the drop in US inflation and the release of weaker-than-expected economic data have increased bets that the Fed will raise basic interest rates in the world’s largest economy by 0.25 percentage points at next week’s meeting, after four consecutive increases of 0.5 points each.
The decrease in the pace of monetary tightening in the United States favors emerging countries. Another factor that has benefited Brazil is the expectation of appreciation of commodities (primary goods with international quotation) after the end of the Chinese government’s restrictions against covid-19.
* With information from Reuters
