Dollar soars after September 7 acts and Bolsonaro speech

After the acts of September 7 and the anti-democratic speech of President Jair Bolsonaro (no party) during the demonstrations, the dollar operates in a high this Wednesday (8/9). At 10:44 am, the US currency was at R$ 5.22 and rose to 0.88%.

On Monday (6/9), the market celebrated a breath in the devaluation of the real, with the dollar closing down 0.14%, at R$5.1760. The scenario changed, however, with the Independence holiday.

Marked by protests against and in favor of Bolsonaro, the acts evidenced an institutional crisis between the Powers. According to experts heard by metropolises, this should directly impact the economy.

“The protests show that the level of tension will escalate and this keeps the risk premium high, which puts pressure on the interest rate. We will continue to pay attention to the market today”, says Necton’s chief economist, André Perfeito.

During his speech, Bolsonaro declared that he will not comply with decisions handed down by the Minister of the Federal Supreme Court (STF) Alexandre de Moraes.

“We swear to respect our Constitution. The specific minister of the STF lost the minimum conditions to remain within that court. We cannot continue to accept that a specific person continues to paralyze our nation. We cannot accept. Or this power [Judiciário] can suffer what we don’t want. We know the value of each power in the Republic”, he pointed out.

The president also stressed that the Executive will no longer accept the measures imposed by governors and mayors, authorized by the Judiciary. “I think the time has come,” he emphasized, interrupted by screams from supporters.

The tone of the country’s president’s speech increased the risk of market meltdown. With the result of the dollar this Wednesday, the American currency accumulated high of 0.12% in the month, for example. In the year, there is indentation of 0.22% against the real.

In the assessment of specialists, the rise in the dollar affects the country in the purchase of basic items for the Brazilian’s daily life.

“With the dollar under control, international investors are starting to put money in the country. Thus, they generate employment, income and introduce money into the economy. The falling dollar brings comfort. It’s not just Disney travel bullshit. Gasoline, gas, commodities and a number of foods are affected by the dollar rate,” said Infinity Chief Economist Jason Vieira to metropolises.