Dollar rises to R$ 5,257, after opening a falling week; Ibovespa drops 0.19%

After opening the week in fall, the dollar returned to record high today, this one of 0.65%, and closed the day quoted at R$ 5.257 on sale. The performance of the US currency follows the worsening of international risk appetite, while the political situation in Brazil still worries investors and keeps the real under pressure.

The Ibovespa, the main index of the Brazilian Stock Exchange (B3), ended Tuesday (14) in a fall of 0.19%, to 116,180.55 points — after a strong increase of 1.85% the day before.

With today’s results, the dollar now accumulates a high of 1.65% against the real in September, while the Ibovespa is down 2.19%. In 2021, the scenario is repeated, with the American currency registering gains of 1.32%, and the indicator, losses of 2.38%.

The dollar value reported daily by the press, including the UOL, refers to the commercial dollar. For those who are traveling and need to buy currency from exchange brokers, the value is much higher.

Policy imposes uncertainties

In the morning, the dollar even registered a fall against the real, after the US Department of Labor announced that the consumer price index (CPI) rose 0.3% in August compared to July — little below the forecast of analysts consulted by Broadcast Projections, of 0.4%.

The trend, however, was not sustained throughout the day, amid a domestic scenario that continues to impose uncertainties on investors.

To Reuters, Alexandre Espirito Santo, chief economist at Órama Investimentos, recalled that 2022 is an election year, which makes it “especially complicated”. As the country is very “split” and the election approaches, with the two main candidates today – Lula (PT) and Jair Bolsonaro (no party) – already adopting a campaign tone, “the dollar goes up”, he added.

For the economist, a dollar between R$ 5.20 and R$ 5.30 is “reasonable” for now, but the US currency may fetch the R$ 5.50 next year, amid doubts about how it will be resolved the account of the precatório (judicial debts of the Union) and how the government’s reform agenda will progress.

Volatility is opening [aumentando], and market and uncertainty do not match.
Alexandre Espirito Santo, from Orama Investments

Petrobras causes noise

At the same time, comments made yesterday about Petrobras by the president of the Chamber, Deputy Arthur Lira (PP-AL), added some noise to this Tuesday’s session. On Twitter, he complained about the prices of petroleum products and demanded explanations from the state-owned company.

“Everything is expensive: gasoline, diesel, cooking gas. What does Petrobras have to do with this? Tomorrow [14], from 9 am, the plenary session becomes the General Committee to question the weight of the company’s prices in all of us. Petrobras must be remembered: Brazilians are its shareholders,” wrote Lira.

Today, around 5:25 pm, Petrobras’ preferred shares (PETR4) — with priority in the distribution of dividends — fell 1.33%, to R$ 25.88.

(With Estadão Content and Reuters)