On a day of considerable volatility in the financial market, the dollar closed below R$5.70 after starting the session approaching R$5.90. The stock market began the day with a sharp drop, but recovered during the session until closing slightly lower.
The commercial dollar ended this Wednesday (6) sold at R$ 5.674, with a decrease of R$ 0.072 (-1.26%). The price reached R$5.85 shortly after the opening of negotiations, minutes after the confirmation of former president Donald Trump’s victory in the North American elections.
During the morning, however, it slowed down and reversed its movement around 12:30 p.m., starting to fall. At the low of the day, around 3:15 pm, it was sold for R$5.66.
The US currency is at its lowest value since October 24th. Despite the fall, the currency has accumulated an increase of 4.16% since the beginning of October and will rise 16.92% in 2024. The commercial euro also had a strong fall this Wednesday, falling 3% and closing at R$6.092.
The dollar’s fall occurred on a day when Google’s search system incorrectly reported the value of the currency. At the beginning of the day, the page showed the commercial dollar quoted at R$6, reaching R$6.14 at the end of the morning. In the early afternoon, Google deactivated the mechanism that shows the real exchange rate.
In the stock market, the day was also marked by instability. B3’s Ibovespa index closed at 130,296 points, down 0.29%. The indicator fell 1.4% around 11:30 am, but recovered throughout the afternoon.
Donald Trump’s election to the White House for a second term made investors discontinue bets against the real and other Latin American currencies.
In the domestic scenario, the market continues to wait for the announcement of the mandatory spending cut package scheduled to be released in the next few days. This Thursday, the Minister of Finance, Fernando Haddad, participated in another round of meetings with ministers at Palácio do Planalto.
Investors were also attentive to the Monetary Policy Committee (Copom) meeting, which raised the Selic Rate (basic interest rate for the economy) to 11.25% per year, the level expected by the market. The decision was announced after the financial market closed.
* with information from Reuters
