Dollar falls in the week, to R$ 5,174; Stock market has highest level since June

The commercial dollar rose 0.21% and closed at R$ 5,174, after four straight highs. With that, the currency closed the week with losses of 5.9%, after advancing for two weeks. The dollar ended July with a fall of 1.16%, after rising 10.15% in June.

The Ibovespa, the main index of the Brazilian Stock Exchange (B3), closed up 0.55%, the third in a row, at 103,164.69 points. It is the highest level of the Exchange in more than a month, since June 10 (105,481.23). For the week, the index gained 4.29%, the best week since early March 2021 (4.7%). In July, the Stock Exchange increased 4.69%, after falling 11.5% in June.

Today’s high was driven by the appreciation of Petrobras shares. At the closing time of the trading session, the PETR4 was worth R$ 34.25 (6.07%) and the PETR3 it was quoted at R$ 37.08 (6.77%).

Yesterday, Petrobras reported that it had a net profit of R$ 54.3 billion in the second quarter of this year. In the first quarter of the year, the state-owned company had already profited R$ 44.56 billion.

The rise in fuel prices is the main reason for the profit recorded by Petrobras in the period.

Dollar rose today, but lost in July

The currency’s appreciation today comes amid fears of global recession, which were momentarily forgotten with data that inflation measured by the index of personal consumption expenditures in the United States has accelerated since last month, which renewed the mood for the dollar. .

In the Brazilian scenario, the market is already paying attention to the weather before the elections, which take place in October. Attacks against electronic voting machines and the process in Brazil, including those made by President Jair Bolsonaro (PL), make investors view the country negatively.

The value of the dollar published daily by the press, including the UOL, refers to the commercial dollar. For those who are going to travel and need to buy currency at exchange brokers, the value is much higher.

About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

Check Also

‘Total disappointment’, says son of PT treasurer murdered on release of bolsonarista police officer | West and Southwest

Guaranho is accused of the double qualified murder of PT. The policeman was released from …