The lack of indications from the elected government about the economic team weighed on the financial market. The dollar closed above R$5.40 for the first time in four months. The stock market plummeted and nearly wiped out the previous day’s gains.
The commercial dollar ended this Friday (25) sold at R$ 5.411, with an increase of R$ 0.101. The price started the day low, reaching R$ 5.30 shortly before 10 am. After the opening of the North American markets, it started to operate at around R$ 5.35 and soared in the late afternoon after the participation of the former mayor of São Paulo Fernando Haddad in an event of the Brazilian Federation of Banks (Febraban).
With today’s performance, the US currency closes the week up 0.67%. The currency accumulates appreciation of 4.74% in November and a drop of 2.96% in 2022.
In the stock market, the day was also marked by instability. The B3 Ibovespa index closed at 108,977 points, down 2.55%. The indicator ended a little above the level of Wednesday (23) and gained only 0.1% in the week.
The lack of information in Haddad’s speech about a name to occupy the Ministry of Finance was not well received by investors. The lack of definitions about the proposed amendment to the Constitution (PEC) that intends to remove the Bolsa Família program and some investments from the federal spending ceiling contributed to the volatility.
Abroad, the day was marked by little business, also because of the Thanksgiving holiday yesterday (24) in the United States. On the international market, the dollar rose slightly against the world’s main currencies.
*With information from Reuters
