The relief abroad and the end of the cycle of high interest rates in Brazil caused the dollar to fall sharply and approach R$ 5.10. The stock market rose sharply and closed above 114,000 points for the first time since April.
The commercial dollar closed this Thursday (22) sold at R$ 5.114, with a decrease of R$ 0.059 (-1.14%). , but fell amid the inflow of external flows.
The US currency is at its lowest value since the 12th, when it closed at R$5.09. The currency has accumulated a drop of 1.69% in August and 8.29% in 2022. At the lowest level in 20 years against the dollar, the commercial euro closed at R$ 5.032, amid concerns about the war in Ukraine and the high of inflation on the continent.
In the stock market, the day was also one of optimism. Driven by the end of the interest rate hike in Brazil, the Ibovespa index, on the B3, closed at 114,070 points, up 1.91%. The indicator is at the highest level since April 20.
Except in the euro zone, the international financial market had a day of relief after the Federal Reserve (Fed, North American Central Bank) raised the basic interest rates in the United States by 0.75 percentage point. The confirmation of the forecasts of most analysts reduced pressures on the dollar and made investors sell the currency to pocket the profits of recent weeks.
Emerging countries benefited from the rise in commodities (primary goods with international quotations). With the worsening of tensions between Russia and Ukraine, the price of several commodities rose again this Thursday, benefiting exporters of primary products.
In Brazil, the end of the Selic high cycle (basic interest rates in the economy) favored the stock market. The maintenance of the rate at 13.75% per year stimulated the migration of investments in fixed income, with lower risk, to the stock market, which has greater risk. At the same time, high interest rates, which remain at the highest level since 2017, continue to favor the inflow of foreign capital, even though they have stopped rising.