On a day with few trades due to the Holy Week holiday, the dollar closed with a slight increase, but remained below R$ 4.70 and ended the week in decline. After rising yesterday (13), the stock market fell again today and accumulated losses for the second week in a row.
The commercial dollar closed this Thursday (14) sold at R$ 4.696, with a rise of only 0.16%. The foreign exchange market started the day under tension, with the currency rising to R$4.74 around 11 am. The bullish movement, however, slowed down in the following hours, and the price operated close to stability throughout the afternoon.
With today’s performance, the US currency closed the week with a drop of 0.27%. The currency accumulates a low of 1.36% in April and 15.78% in 2022. The prospect that the Brazilian Central Bank will promote an additional increase in the Selic rate in June has held back the dollar’s high.
The stock market had a more tense day. The B3 Ibovespa index closed at 116,182 points, down 0.51%. At the worst moment of the day, around 2 pm, the indicator fell by 0.99%, but recovered a little towards the end of the session.
The Ibovespa closed the week with a loss of 1.81%, with the second consecutive weekly drop. This week, shortened because of the holiday, the stock market rose only yesterday. The stock market has been hit by the US equities slump as yields on US Treasuries rise, with the prospect of the Federal Reserve raising interest beyond what was expected to hold back inflation, which is at its highest level in 40 years.
* With information from Reuters
