Dollar rises to R$ 5.52, and the stock market closes at the lowest level in a year

Dollar rises to R$5.43 and the stock market falls to the lowest level since 2020

Influenced by the international scenario and the approval of the constitutional amendment that expands social benefits, the financial market had another nervous day this Thursday (14). The dollar came close to R$5.50, but the rise lost strength throughout the day. The stock market fell again and reached the lowest level since the end of 2020.

The commercial dollar ended the day sold at R$5.433, up by R$0.027 (+0.51%). The US currency had a tense day, selling at R$5.48 at the highest of the day, around 10:30 am. However, the price decelerated after statements by directors of the Federal Reserve (Fed, US Central Bank) that cooled the market.

The stock market had an even more turbulent Thursday. The B3 Ibovespa index closed at 96,121 points, down 1.8%. The indicator closed at the lowest, the week before Joe Biden’s victory in the US elections.

Both external and internal factors interfered in the financial market. In the United States, bets have increased that after annual inflation hits 9.1% in June (the highest level in 41 years), the Fed will raise interest rates by 1 percentage point at its next meeting. Higher rates in advanced economies cause resource outflows from emerging countries such as Brazil.

Tempers only calmed down in the afternoon, when two Fed officials indicated they intend to raise US policy rates by 0.75 percentage point later this month. The dollar decreased its appreciation against the main international currencies.

In Brazil, investors reflected the approval yesterday (13) of the constitutional amendment that increases social benefits and creates temporary aid for taxi drivers and truck drivers. With an impact of R$ 41.25 billion on the Union Budget from August to December, the text was promulgated by the National Congress earlier this evening.

*With information from ReutersDollar rises to R$5.43 and the stock market falls to the lowest level since 2020

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