After a day of fluctuations, the dollar reduced its high near the end of negotiations and closed practically stable, after the federal tax collection hit a record in September and the discussion of the proposed amendment to the Constitution that parcels out the court orders and changes the spending ceiling. postponed. The stock market fell 2.11% and almost canceled yesterday’s gains (25), amid the expectation that the Central Bank (BC) will increase the pace of readjustment of the Selic rate (basic interest rate for the economy).
The commercial dollar ended this Tuesday (26) at R$5.573, up R$0.018 (+0.32%). The price started the day with a slight drop and accelerated in the morning, reaching R$ 5.60 in the day’s maximum, around 1:30 pm. Then, the high lost strength, after the release of the result of the federal tax collection last month. The currency started to operate close to stability after the announcement that the lack of agreement with opposition parties led to the postponement of the discussion of the PEC of precatório in the Plenary of the Chamber.
With today’s performance, the dollar accumulates a high of 2.33% in October. In 2021, the currency has appreciated by 7.4%.
The stock market had a much more tense day. The B3 Ibovespa index closed the day at 106,420 points, down 2.11%. The announcement that the preview of inflation closed October at 1.2% and reached the highest level for the month since 1995 brought the markets down.
With inflation on the rise, expectations have increased that the Central Bank’s Monetary Policy Committee (Copom) will be more aggressive in raising the Selic rate, at the meeting that began today and ends tomorrow (27). Higher interest rates discourage investment in stocks, high-risk investments, and encourage investments in fixed income, such as National Treasury bonds, taking money from the stock market.
* With information from Reuters
