Dollar hits five-month low despite tensions in Ukraine

Dollar hits five-month low despite tensions in Ukraine

Despite the worsening of tensions between Russia and Ukraine, the dollar did not feel the tensions in the external market and fell to the lowest value in five months. The stock market also resisted the fall in European and North American indices and closed higher for the fifth consecutive session.Dollar hits five-month low despite tensions in Ukraine

The commercial dollar ended this Monday (14) sold at R$ 5.219, with a decrease of R$ 0.024 (-0.46%). The price started the day high, reaching R$ 5.26 around 9:30 am, but soon reversed course and started to fall after the opening of the North American market.

The US currency is at its lowest level since September 6, when it was at R$5.177. The currency accumulates a fall of 1.65% in February and 6.41% in 2022.

In the stock market, the day was also dominated by resistance to external pressures. The Ibovespa index, of the B3, closed this Monday at 113,899 points, with a slight increase of 0.29%. The indicator even dropped at times of the day, but managed to consolidate gains, boosted by bank shares, which are reporting higher-than-expected profits.

The stock market rose, even with the decline in Petrobras shares. Influenced by tensions in Ukraine, the state-owned shares, the most traded on the stock exchange, fell by 2.25% (preferred shares) and 2.58% (common shares). The shares plummeted even with the international price of oil having reached the highest level since 2014. The barrel of the Brent type, which serves as a reference for Petrobras, was traded at US$ 96 today.

Despite global turmoil over the possibility of conflict in Ukraine, high interest rates in Brazil continued to attract foreign capital on Monday. At the beginning of the month, the Central Bank’s Monetary Policy Committee (Copom) raised the Selic rate, the economy’s basic interest rate, to 10.75% per year, the highest level since July 2017.

*With information from Reuters

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