US currency.  (Valter Campanato/Agência Brasil)
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US currency. (Valter Campanato/Agência Brasil)

In yet another unstable day in the financial market, the dollar rose and the stock market fell amid electoral tensions and negotiations around the proposed amendment to the Constitution (PEC) to withdraw part of the expenditure ceiling next year. The US currency annulled yesterday’s fall, the stock market reversed the previous day’s gains and approached 109,000 points again.Campo Grande News - Real ContentCampo Grande News - Real Content

The commercial dollar ended this Tuesday (22) sold at BRL 5.38, up by BRL 0.069 (+1.3%). The currency fell in the first minutes of trading, but reversed the movement and started to rise in the morning. In the late afternoon, the quotation soared and reached R$5.40 around 4:30 p.m., shortly after the PL announced a lawsuit at the Superior Electoral Court (TSE) to question the validity of ballot boxes manufactured before 2020.

The stock market performed similarly. The B3 Ibovespa index closed at 109,036 points, down 0.65%. The indicator operated at a slight rise during the morning, plummeting 1.66% shortly before 5 pm, but softened the fall in the final hour of trading.

This Tuesday, the dollar closed again against the trend abroad, where the US currency fell 0.3% against the main world currencies. In addition to the action of the PL questioning the result of the elections, investors are waiting for the unfolding of the negotiations around the PEC of the Transition.

The government filed a text that asked for the exclusion of BRL 198 billion, but senators Alessandro Vieira (PSDB-SE) and Tasso Jereissatti (PSDB-CE) suggested proposals that would reduce the impact to BRL 70 billion and BRL 80 billion, respectively. The lack of news regarding the discussions provoked new volatility in the market today.

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