Dollar drops to R$ 4.86 and closes at the lowest level in a year

The commercial dollar ended this Monday (12) sold at R$ 4.867, with a decrease of R$ 0.01 (-0.2%). The price started the day on a high, reaching R$ 4.90 at around 10:45 am, pressured by exporters who took the opportunity to buy currency, but retreated influenced by the foreign market.

With this Monday’s performance, the US currency is at its lowest level since June 6 last year, when it was at R$ 4.79. The currency has accumulated a drop of 4.06% this month and 7.82% in 2023.

In the stock market, optimism also prevailed. The B3 Ibovespa index closed at 117,336 points, up 0.27%. The indicator reached the highest level since November 4 of last year, days after the result of the presidential elections.

Internal and external factors contributed to the favorable climate in the financial market. In Brazil, the Selic Rate (basic interest rate of the economy) at 13.75% per year has stimulated the inflow of foreign capital, attracted by high yields.

In the United States, expectations have increased that the Federal Reserve (Fed, US Central Bank) will interrupt the cycle of interest rate hikes at the next meeting, this week. Lower interest rates in advanced economies benefited emerging countries such as Brazil.

Now, Agência Brasil is broadcasting articles about the closure of the financial market only on extraordinary days. The dollar rate and the stock exchange level are no longer reported on a daily basis.

* with information from Reuters