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Dollar rises to R$5.77 with delay in spending cut package

Dollar closes at R$5.60 with cyber blackout and US elections

Without the definition of the announcement of the spending cut package, the financial market had another day of volatility. The dollar rose for the third session in a row. The stock market closed stable, after alternating highs and lows throughout the day.Dollar rises to R$5.77 with delay in spending cut package

The commercial dollar ended this Monday (11) sold at R$ 5.77, an increase of R$ 0.032 (+0.56%). The currency started the day on a strong rise, reaching R$5.81 at around 10:30 am, but slowed down during the afternoon.

Despite this Monday’s rise, the US currency accumulated a small drop of 0.19% in November. In 2024, the currency will rise by 18.89%.

In the stock market, the day was marked by instability. The Ibovespa index, from B3, closed at 127,874 points, an increase of just 0.03%. In the morning, the indicator fell 0.39%. At around 3:20 pm, it rose 0.21%.

As in recent days, both domestic and external factors influenced the financial market. On the international scene, the dollar strengthened with the protectionism measures announced by the president-elect of the United States, Donald Trump. To the commodities (primary goods with international prices) fell due to weak data from the Chinese economy.

In the domestic market, negotiations were once again influenced by the delay in announcing the mandatory spending cut package. On Monday afternoon, the Minister of Finance, Fernando Haddad, met alone with President Luiz Inácio Lula da Silva outside the agenda. The meeting took place after days of meetings, over the past week, between Lula and the ministers of the areas that could be affected.

*With information from Reuters

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