Influenced by abroad, dollar closes above R$5

On a day of nervousness in the international market, the dollar ended the quarter above R$5. The Stock Exchange closed with gains, influenced by the rise in the international price of oil.

The commercial dollar ended this Thursday (28) sold at R$5.015, up R$0.037 (+0.74%). The price operated with stability during the morning, but soared in the afternoon after the formation of the Ptax rate, the average exchange rate for the day calculated by the Central Bank (BC) which serves as a basis for negotiations with public debt.

This was the first time in nine days that the US currency closed above R$5. With today’s performance, the US currency ends the month with an increase of 0.86%. In 2024, the currency accumulates appreciation of 3.34% in 2024.

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In the stock market, the day closed with gains. The Ibovespa index, on the Stock Exchange (B3), closed at 128,106 points, up 0.33%. The indicator was driven by Petrobras, the most traded shares, which rose due to the international rise in oil prices. Despite Thursday’s rise, the Brazilian stock market lost 0.71% in March.

Petrobras’ common shares – with voting rights at shareholders’ meetings – rose 2.46%. Preferred papers – with preference in the distribution of dividends – advanced 2.22%. This Thursday, the price of a barrel of Brent oil rose 1.42%, to US$86, with the prospect of a reduction in supply in the coming months.

GDP in the United States

The dollar rose across the planet following the upward revision of the United States’ Gross Domestic Product (GDP) in the fourth quarter of last year. Heating up the activity complicates the task of Federal Reserve (Fed)the North American Central Bank, to cut basic interest rates in the largest economy on the planet.

One of the directors of Fed, Christopher Waller, said the agency may begin reducing rates later than anticipated. He further stated that the Wmay make fewer cuts than estimated after US economic data.

High rates in advanced economies encourage capital flight from emerging countries, such as Brazil. With the migration of resources to US Treasury bonds, considered the safest investments in the world, the dollar is gaining strength across the planet.

* With information from Reuters