Dollar lower than R$ 3.90 for first time in over a month

For the first time in over a month, the dollar closed out the day below R$ 3.90, ending Thursday (Feb 4.) at R$ 3.894, down 0.61%. The rate is at its lowest since December 28 (R$ 3.86).

At the São Paulo Stock Exchange, the Ibovespa index closed the day up 3.08%, at 40,809 points. Despite the hikes observed on the last few days, the index is still close to 2009 levels, the peak of the international crisis triggered by the collapse in the US real estate market.

The increase was pulled by Petrobras shares, which went up 8.74% (common stock, holders may vote during a shareholders' meeting) and 5.12% (preferred stock, holders are entitled to a fixed dividends whose payment is given priority) and also by securities at mining giant Vale, which skyrocketed, going up 15.43% (common stock) and 11.78% (preferred stock). Since the end of last month, when Japan's Central Bank announced negative interest, securities such as those from Petrobras and Vale, which trade in commodities, are recovering as stimuli to the Japanese economy may compensate for the slowdown faced by China and propel the global demand for such commodities.

Translated by Fabrício Ferreira