Benefited by high interest rates in Brazil and the global appreciation of commodities (primary goods with international quotations), the dollar fell to R$5 for the first time since June last year. The optimism in the currency market did not extend to the stock market, which fell about 1% as tensions between Russia and Ukraine worsened.
The commercial dollar closed this Wednesday (23) sold at R$ 5.004, with a decrease of R$ 0.048 (0.95%). The price was lower throughout the day. Toward the end of trading, the currency reached R$4.99 several times.
At the lowest level since June 30 of last year, the dollar accumulated a fall of 5.7% in February. In 2022, the decline reaches 10.23%, which guarantees the real the best global performance in the year among the main currencies.
The stock market did not resist external tensions. The Ibovespa index of the B3 (Brazilian stock exchange) closed the day at 111,756 points, down 1.01%. The indicator was pressured by US stock exchanges, which had a sharp decline due to the conflict between Russia and Ukraine.
Two factors contributed to the fact that the instability in Eastern Europe was not felt in the exchange rate. The first was the migration of external flows to emerging countries because of the rise in several commodities, whose prices have soared in recent days with the escalation of the conflict. The dollar generally fell against the currencies of countries exporting minerals and agricultural products.
The second factor was the high level of interest in Brazil, which makes the country more profitable for international finance capital. Currently, the Selic rate (basic interest rates in the economy) is at 10.75% per year, the highest level since July 2017.
* With information from Reuters
