Dollar closes above R$ 4.90 this Wednesday

Financial market

Stock market falls 0.57% and closes at the lowest level in three weeks

The release of data showing the stagnation of the Chinese economy has again put pressure on the financial market. The dollar rose for the third day in a row and surpassed the R$4.90 barrier. The stock market had the seventh consecutive fall and reached the lowest level in three weeks.

The commercial dollar ended this Wednesday (9) sold at R$4.905, up just 0.15%. The price fluctuated significantly throughout the day. It even dropped to R$4.87 at around 9:40 am, but reversed the movement and rose after the opening of the North American markets. At the maximum of the day, around 3:15 pm, it touched R$ 4.92.

With today’s performance, the US currency closed at the highest value since July 6, when it had reached R$ 4.93. The currency accumulates a high of 3.7% in August, but drops 7.1% in 2023.

In the stock market, the day was also negative. The B3 Ibovespa index closed at 118,409 points, down 0.57%. The indicator is at the lowest level since July 20, with emphasis on the fall in shares of banks and mining companies.

Both domestic and external factors interfered in the financial market. On the international scene, emerging countries are being harmed by China. The Asian country recorded, in July, the first deflation since February 2021. The retreat worried the entire planet, indicating that the stimulus packages for the second largest economy on the planet are being insufficient.

In Brazil, investors are attentive to the progress of projects in the economic area in Congress, such as the vote on the new fiscal framework, in the Chamber of Deputies, and the project that changes the vote in the Administrative Council of Tax Appeals (Carf), in the Senate. Since the Central Bank reduced the Selic Rate, the economy’s basic interest rate, the dollar began to rise and the stock market to fall, with the market awaiting developments in the political agenda.

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

* with information from Reuters