Dollar rises today with doubts about the magnitude of the Copom interest rate cut

The dollar rose this Wednesday (8), erasing the previous day’s losses, as investors prepared for the conclusion of the meeting of the Central Bank’s Monetary Policy Committee (Copom) amid uncertainty about the pace of easing , while the climate abroad was neutral.

The day before, the US currency in cash closed slightly down 0.13%, quoted at R$5.068 on sale.

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What is the dollar exchange rate today?

At 9:25 am (Brasília time), the dollar in cash rose 0.61%, to R$5.097 for purchases and R$5.098 for sales. On B3, the first-month dollar futures contract advanced 0.45%, equivalent to 5,109 points.

The Central Bank will auction up to 12 thousand traditional currency swap contracts in this session for the purpose of rolling over the maturity date of July 1, 2024.

Commercial dollar

Sale: R$5,098

Purchase: R$5,097

Tourism dollar

Sale: R$5,282

Purchase: R$ 5,102

Read more: Types of dollars: find out the main ones and the importance of the currency

Investors are focused on the pace and timing of the Brazilian Central Bank’s interest rate cuts, which are likely to boost the currency market.

Today, the Monetary Policy Committee (Copom) of the BC of Brazil decides the path of interest rates, with the vast majority betting on reducing the pace of monetary easing to a cut of 0.25 percentage points, compared to 0.50 points at the last meetings.