Dollar closes below R$5 for the first time since June 2021

Dollar rises to R$4.89 with domestic and foreign uncertainties

on a day of worries Sunethically and externally, the dollar fluctuated a lot, but closed slightly higher this Wednesday (8). The Stock Exchange fell again and reached the lowest level in three weeks.Dollar rises to R$4.89 with domestic and foreign uncertainties

The commercial dollar closed the day sold at R$4.89, up R$0.016 (+0.33%). The price even dropped during the morning, reaching R$ 4.84 at the lowest of the day, around 10:30 am. However, the turmoil in the international market took its toll, and the currency rallied after the opening of US markets. The currency accumulates a high of 2.88% in June. In 2022, however, it drops 12.3%.

In the stock market, the day was more complicated. The B3 Ibovespa index closed at 108,368 points, down 1.55%. The indicator is at the lowest level since May 19when it had closed just above 107 thousand points.

unstable market

Two factors contributed to the instability in the financial market. The first involves the repercussions of the proposed amendment to the Constitution (PEC) which aims to eliminate the Tax on the Circulation of Goods and Services (ICMS) on fuel by the end of the year and reimburse the states.

Yesterday (7), the president of the Senate, Rodrigo Pacheco, confirmed his intention to vote, in the next Mondayon Friday (13), the bill that establishes a ICMS ceiling for fuel and energy, which is part of the package to lower fuel prices.

In the international market, concerns about inflation in the United States once again weighed heavily. The biggest economy on the planet faces the biggest price rise in the last 40 years. In this fourthOn Monday, US stocks fell and US Treasury rates rose. Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil.

* With information from Reuters

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