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Dollar approaches R$5.4 on a day of tension in Brazil and abroad

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Nervousness in the domestic and international market prevailed this Monday (26). The dollar approached R$5.4 and reached its highest value in two months. The stock market fell sharply and reached its lowest level since the beginning of August.

The commercial dollar ended Monday sold at R$5.381, up by R$0.134 (+2.53%). The currency opened at R$5.3 and operated above that level throughout the session. At the maximum of the day, around 1:30 pm, it reached R$ 5.41. The commercial euro rose 1.69%, but closed at R$5.175, continuing below the dollar.

The US currency reached its highest value since July 22, when it closed at R$5.5. Unlike last Friday (23), the Central Bank (BC) did not intervene in the exchange rate today, but, in the late afternoon, announced an auction for the sale of dollars with combined purchase for tomorrow (27).

In the stock market, the day was also marked by tension. The B3 Ibovespa index closed at 109,114 points, down 2.33%. This was the second consecutive drop of the indicator, which is at the lowest level since August 9.

As on Friday, fears of a global recession have once again dominated financial markets across the globe. Announcements by the European and UK Central Banks that they intend to raise interest rates to stem the devaluation of the euro and pound sterling have raised fears that advanced economies will soon face recession.

Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil. In the domestic market, tensions associated with the election week also influenced the negotiations.

* With information from Reuters

Translated to english by RJ983

From Brazil, by EBC News

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