Yesterday the dollar exchange rate reverberated across the country due to political tension this Friday (24th) which will certainly be marked as the great day in which a minister accuses a president and the present refutes the accusations.
The controversial and praised departure of Sergio Moro from the Ministry of Justice led the currency to hit a new historical record, going from R$ 5.72 during business, while the now ex-minister made his last statement in office.
As expected, at the end of the day when trading went to close, the dollar ended up selling at R$ 5.6573, an all-time high of 2.33%. At the high of the day, it was traded at R$ 5.7469. See more quotes.
Consequently, the Brazilian currency, represented by the Bovespa closed sharply falling, reaching over 9% during the trading session.
Uncertainties in Brazil make the dollar remain high
We know that in the midst of a scenario of low interest rates – with expectations of even more cuts in the Selic by the Central Bank –, the dollar accumulates a high of 41.09%.
As disclosed by the economic projectors, in the month, the accumulated high is 8.88%.
But, after all, what will be the fate of Brazil if the dollar continues to grow astronomically? One important thing needs to be emphasized here, it is not the US dollar that is constantly rising, on the contrary, it is the Brazilian currency that is being devalued on the international scene.
Political tensions only harm the country.
Many people are not aware of the devaluation of the currency, and consider that the American currency is on the rise, if you compare Trump's currency with the European one, for example, you will realize that there is no overvaluation, on the contrary, it is much lower.
What is the ideal solution for this scenario?
The best thing, according to economic experts, is to invest in public policies that fight the real problem at this moment, which is the coronavirus. As former Minister Moro speaks in his press conference, The focus now must be on the lives of citizens who will be directly harmed.
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Source: G1 News Economy
