Dollar drops to R$ 4.73 and closes at the lowest value in 15 months

The commercial dollar ended this Monday (24th) sold at R$4.733, down R$0.047 (-0.99%). The quotation came to operate on the rise at the beginning of the day, but began to plummet after the opening of the North American markets. At the low of the day, around 12:30 pm, it reached R$ 4.72.

With Monday’s performance, the US currency is at its lowest level since April 20 last year, when it closed at R$4.61. The currency has accumulated a drop of 1.19% in July and 10.36% in 2023. The commercial euro closed at R$5.23 and reached the lowest value since the last 30th.

In the stock market, the day was also marked by euphoria. The B3 Ibovespa index closed at 121,342 points, up 0.94%. The indicator even opened close to stability, but soared influenced by shares of mining and oil companies, the most traded shares. The Brazilian stock market is at its highest level since April 1st of last year.

The global financial market is experiencing days of expectation, with the meeting of the Federal Reserve (Fed, North American Central Bank) this Tuesday (25) and Wednesday (26). The body will be able to implement the last increase in basic interest rates in the largest economy on the planet, ending a cycle of increases that began in April last year.

Commodity exporting countries (primary goods with international quotation), such as Brazil, were benefited by the appreciation of grain prices in the foreign market, after the end of the Ukraine cereal export agreement. Despite the restriction in the global supply of wheat, the blockade results in an increase in the price of primary goods.

A Brazil Agency it is giving the 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