Dollar drops to R$ 5.50 after Central Bank intervention - Economy

With the help of the Central Bank (BC), which intervened in the exchange rate, the dollar had a slight drop after touching R$ 5.60 during the day. The stock market rose and closed above 113,000 points for the first time this month.

The commercial dollar ended this Wednesday (13) sold at R$ 5.509, with a retreat of R$ 0.028 (-0.51%). The price operated at a high during almost the entire session, reaching R$ 5.57 at the maximum of the day, around 3pm. The trend was only reversed when the BC carried out a surprise auction of US$ 1 billion in foreign exchange swap contracts, an operation that is equivalent to the sale of dollars in the futures market.

Today’s drop was the biggest since Oct. 1, when the US currency had fallen 1.4%. The currency accumulates high of 1.16% this month and 6.17% in 2021. The stock market had a less tense day, marked by recovery after the fall on Monday (11).

The B3 Ibovespa index closed at 111,807 points, up 1.14%. The indicator is at its highest level since September 27th. On a day when the dollar fell or remained stable against the main currencies, internal uncertainties influenced the market more than the international scenario.

Investors are awaiting the vote on the proposed amendment to the Constitution (PEC) that divides the precatories and the bill that reformulates the Income Tax. The first proposal would release up to R$ 50 billion to be spent next year and the second proposal could reduce tax collection in the coming years, making it difficult to rebalance public accounts.

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