The dollar closed on a high this Friday (10), at the end of a week of strong market turmoil due to the democratic acts of September 7th, the coup speeches of President Jair Bolsonaro – and the ‘pacification’ letter published by him .
The North American currency advanced 0.82%, quoted at R$ 5.2661. See more quotes.
As a result, the dollar rose 1.59% in the week and accumulates a high of 1.86% in the month. In the year, the advance is 1.52% against the real.
- READ TOO: Bolsonaro’s coup jeopardizes economic recovery and crisis may worsen; understand
Bolsonaro publishes ‘Declaration to the Nation’
Investors continued to monitor on Friday the movement of truck drivers and road protests across the country for the second consecutive day in support of the government and against STF ministers. In the calendar of indicators, the IBGE announced earlier that trade sales grew 1.2% in July.
President Jair Bolsonaro on Thursday released a text entitled “Declaration to the Nation” in which he said he never had “the intention of attacking any of the powers”. According to the text, “people who exercise power do not have the right to ‘stretch the rope’, to the point of harming Brazilians’ lives and their economy.”
The release of the statement was advice to Bolsonaro from former president Michel Temer.
A widespread sale of Brazilian assets dominated the domestic market on Wednesday and took its toll on the exchange rate as foreign and local investors dumped positions amid fears of a deepening domestic institutional crisis and its potential spillovers on accounts and economic growth.
Protests against and in favor of the government of President Jair Bolsonaro marked the Independence holiday in Brazil. The acts took place amid clashes between the president and the Supreme Court (STF), and in a context of falling popularity and assessments of the Bolsonaro administration – and a sharp economic crisis.
During the events, the president made coup threats, attacking the Brazilian electoral system, members of the STF and governors and mayors who took measures to combat the coronavirus. Bolsonaro directed the main attacks on STF minister Alexandre de Moraes – and stated that he will not comply with his decisions.
Bolsonaro’s threats were repudiated by governors and lawmakers, with increased support for a possible impeachment of the president.
In response to Bolsonaro’s attacks, Minister Luiz Fux, president of the Federal Supreme Court (STF), stated that “no one will close” the Court and that contempt for court decisions by the head of any power constitutes a crime of responsibility.
Bolsonaro returns to attack the Supreme Court and the electoral system in acts with anti-democratic agendas
Dollar variation in 2021 — Photo: G1 Economy