Dollar closes below R$ 4.80 for the first time in two weeks

Still under the influence of lower-than-expected inflation in the United States, the financial market had another day of optimism. The dollar fell for the third time in a row and closed below R$4.80 for the first time in two weeks. The stock market rose for the second consecutive day and reached the highest level since the beginning of the month.

The commercial dollar ended this Thursday (13) sold at R$ 4.79, with a decrease of R$ 0.028 (-0.57%). The quotation went up at the beginning of the day, reaching R$ 4.83 around 9:30 am, but retreated after the opening of the North American markets.

The US currency is at its lowest level since June 30, when it also closed short at R$4.79. The currency zeroed the high in the month and accumulates a drop of 9.28% in 2023.

In the stock market, the day was also marked by euphoria. The B3 Ibovespa index closed at 119,264 points, up 1.36%. The indicator reached the highest level since the last 5th, influenced by oil companies, mining companies and banks.

Both internal and external factors contributed to the favorable climate in the financial market. In the United States, the disclosure that wholesale prices rose less than expected in June encouraged investors. On Wednesday (12), it was announced that consumer prices also rose below expectations and that annualized inflation (projected for the following 12 months) fell below 3% for the first time since March 2021.

In Brazil, the negative inflation of 0.08% in June increased the bets of a drop in the Selic rate (basic interest rate of the economy) from August. The possible reduction in interest rates attracts investments on the stock exchanges, because of investors at greater risk. On the other hand, the current Selic rate of 13.75% per annum continues to attract foreign capital, which encourages the fall of the dollar.

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