Dollar at a peak since 2005
The price of the US dollar is at a new record high in Brazil. On Wednesday (Dec. 10), it reached R$2.613, an increase of 0.55%. The rate is the highest since April 18, 2005, when the dollar closed at R$2.616. The currency rate has increased 1.59% in December and 10.82% so far this year.
There has been marked volatility since the re-election of President Dilma Rousseff, and the rates have not declined after the new economics staff was confirmed with Joaquim Levy as the Finance Ministry, Nelson Barbosa as the Minister of Planning, and Alexandre Tombini as the chairman of the Central Bank.
And the global scenario only adds to this instability, especially after the US Federal Reserve (Fed) decided to stop injecting dollars into the global economy following a recovery in US employment.
Even the decision by Brazil's Central Bank Monetary Policy Committee (COPOM) to increase the SELIC (key interest) rate to 11.75% per year has failed to produce the desired effect of leading to a decrease in the dollar price. Higher domestic interest rates would have been expected to force the dollar down because they further increase the gap between Brazilian and US interest rates, making Brazil more attractive to international investors.
Translated by Mayra Borges
Fonte: Dollar at a peak since 2005
