Dollar opens higher, with expectations of week indicators and decisions on the Brazilian Budget

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On the eve, the US currency was up 0.01%, sold at R$ 4.8753. Dollar banknotes bearfotos/Freepik The dollar operates on a high this Tuesday (29), while investors are still awaiting a battery of economic indicators in Brazil and the US, in addition to the federal government’s definitions on the 2024 Budget. US currency advanced 0.34%, quoted at R$ 4.8918. See more quotes. The day before, the dollar closed the trading session with a gain of 0.01%, sold at R$ 4.8753. With the result, the currency started to accumulate: high of 3.10% in the month; drop of 7.63% in the year. COMMERCIAL X TOURISM: what is the difference between the quotation of foreign currencies and why is tourism more expensive? MONEY OR CARD? What’s the best way to take dollars on trips? DOLLAR: When is the best time to buy the currency? What is messing with the markets? On the domestic agenda, attention remains focused on the steps taken by the federal government to compose its support base in the National Congress and on measures to increase revenue and demonstrations of how it intends to zero out the public deficit in 2024. Next year’s Budget needs to be forwarded to Congress by August 31. Late Monday afternoon, President Luiz Inácio Lula da Silva (PT) signed a provisional measure that creates a rate of 15% to 20% on income from exclusive funds and sent a proposal to Congress to tax offshore companies. The taxation of exclusive funds, which are high-income funds, had already been announced by the government as a source of compensation for the increase in the Income Tax exemption range for taxpayers earning up to R$ 2,640 a month, a measure approved by Congress and sanctioned by Lula also this Monday. Exclusive funds are customized for the shareholder and, currently, tax is only payable when the application is redeemed. The text of the MP does away with the single taxation on redemption and will be carried out twice a year, in the “eat-quota” scheme. The MP provides that the shareholder who decides to start the contribution later this year will be taxed at a rate of 10%. As for the PL, the proposed charge for offshore companies will be progressive from 0% to 22.5%. See the chart below: individual with income abroad of up to BRL 6 thousand per year: 0% rate individual with income abroad between BRL 6 thousand and R$ 50 thousand per year: rate of 15% income abroad of more than R$ 50,000 per year: rate of 22.5% If approved by Congress, the new taxation will refer to results calculated from January 1, 2024. Currently, capital invested abroad is only taxed when rescued and sent to Brazil. Abroad, the United States releases GDP results for the 2nd quarter this week, on Wednesday. Also on the list of releases are the July consumer spending deflator on Thursday and August labor market results on Friday. Understand what makes the dollar rise or fall

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