This factor changes the price of practically all emerging currencies. This is what Claudia Moreno, economist at C6 Bank, says. “The dollar has been getting stronger against all these currencies, not just the real,” she says.
As interest rates take time to fall in the USA, money from investors around the world remains there, invested in the American Treasury. “This generates this change in the position of some investors, who leave Brazil and direct their resources to other markets”, says Sérgio Brotto, co-founder and executive director of Dascam, a foreign exchange broker.
Plus, there’s the American election. Traditionally, according to Bernardo Brites, president of Trace Finance, the American government tries to warm up the local market in election years, which can help companies on American stock exchanges. Therefore, investors end up migrating there.
How will the Central Bank try to intervene in the rise of the dollar?
The Central Bank will hold several auctions this Tuesday (2). They correspond to a sale of dollars in the futures market. This ensures that there is supply to meet the increased demand for the currency – and this holds its price somewhat. The value will be equivalent to US$ 1 billion. Last year, the BC did not put new dollars on the market through auctions.
The effect is that the dollar stops rising. Momentarily, explains Ariane Benedito, economist and specialist in capital markets, the currency stops rising. Sometimes it even falls. But the expectation, according to her, is that it will remain stable for some time. At 2:30 pm on the 2nd, the dollar was stable, with a slight drop of 0.07%.
