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Dollar drops to R$ 5.21 and reaches lowest value in 10 days

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On the day of the resignation of British Prime Minister Liz Truss, the financial market had a truce. The dollar approached R$5.20 and reached its lowest value in 10 days. The stock market rose for the fourth time in a row and reached the highest level in two weeks.

The commercial dollar ended this Thursday (20) sold at R$ 5.218, with a fall of R$ 0.057 (-1.07%). The price opened at around R$5.25 and began to fall sharply after confirmation of Liz Truss’ resignation. At the low of the day, around 12:00, it reached R$ 5.19.

The US currency is at its lowest value since the 10th. With today’s performance, the dollar has accumulated a drop of 3.28% in October. In 2022, the currency fell by 6.42%.

In the stock market, the day was marked by gains. The B3 Ibovespa index closed at 117,171 points, up 0.77%. The indicator reached its highest value since the 6th. Bank and oil company stocks pushed the rise.

The dollar fell in practically the entire planet after the confirmation of Truss’ resignation. The package of tax cuts for the richest sections of the British population and a tax freeze for companies, announced three weeks ago, was poorly received by the global market. That’s because the measures would be financed through the increase of British public debt, which caused a domino effect in the financial market in recent weeks.

At the same time, better-than-expected earnings from US companies brought relief to global investors, reducing the search for US Treasuries, considered the safest investments in the world. When the demand for these papers rises, the dollar appreciates, putting pressure on the currencies of emerging countries, such as Brazil.

* With information from Reuters

Translated to english by RJ983

From Brazil, by EBC News

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