The dollar operates with a sharp drop this Thursday morning (2), at the start of a session marked by technical adjustments, due to the Labor Day holiday that kept Brazilian markets closed yesterday.
Last Wednesday (1st), the president of the Central Bank of the United States, Jerome Powell, stated that the Federal Reserve will maintain interest rates in the American economy at the current level for as long as necessary. The risk rating agency Moody’s reaffirmed Brazil’s credit risk rating at Ba2 and changed the country’s outlook from “stable” to “positive”.
What is the dollar exchange rate today?
At 9:25 am (Brasília time), the spot dollar is down 1.06%, at R$5.137 when buying and R$5.138 when selling. At B3, the first-month dollar futures contract fell 1.23%, equivalent to 5,153 points.
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Commercial dollar
Sale: R$5,138
Purchase: R$5,137
Tourism dollar
Sale: R$ 5.40
Purchase: R$ 5.22
Read more: Types of dollars: find out the main ones and the importance of the currency
The North American currency plummets against the real, in line with international risk appetite after the Federal Reserve (Fed) reinforced its view that it will cut interest rates this year, while, in Brazil, Moody’s raised Brazil’s outlook.
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Meanwhile, the Central Bank will auction up to 12 thousand traditional foreign exchange swap contracts in this session for the purpose of rolling over the expiration date of July 1, 2024.
On the local data front, Brazil’s current account deficit totaled US$4.6 billion in March 2024, almost the same level as in February and a much worse result than the surplus of US$698 million in March 2023. This figure also surpassed analysts’ LSEG consensus estimates, which projected a deficit of US$3.1 billion for the month.
(With Reuters)
Tags: Dollar today opens sharply Fed improvement Brazils credit outlook
