In Brazil, dollar up to R$5.42 amid interest hikes in the US
On a day marked by panic in the global market, the dollar on Tuesday (Sep. 28) surpasses the R$5.40 threshold and closed out that day at the highest level in nearly five months. The stock exchange sank to the lowest level in a week, virtually canceling out the gains observed since early last week.
The commercial dollar closed out the day at R$5.424, up R$0.046 (+0.85%). The rate is at the highest since May 4’s R$5.431. At this point, the US currency has accumulated 4.88 percent appreciation in September. For 2021, the rate is now up 4.54 percent.
The day was also intense in the stock market. B3’s Ibovespa index closed out the day with a score of 110,124, down 3.05 percent. This was the sharpest daily decline since September 8, when the indicator had shrank by 3.78 percent. Ibovespa is at its lowest level since August 20.
A number of factors helped bring global instability in the financial market. The interests of bonds from the US treasury, considered the world’s safest investment, saw a solid increase Wednesday, amid fears of an increase in inflation in the US.
In Brazil, concerns surrounding the reform in the income tax and the proposal on splitting the payment of registered warrants (government debts with definitive recognition by court authorities) also had an impact on the market.
