Dollar closes below R$ 5.10 for the first time in two weeks

Dollar has the lowest quotation since the end of March and the stock market, despite falling after three straight rises, ended accumulating a high of 12% in the week.

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This Thursday (9), the commercial dollar closed down by 1.02%, to R$ 5.091 on sale. That was the lowest closing value in nearly two weeks since March 26th at R$ 4,998. The Ibovespa, the main index of the Brazilian Stock Exchange, fell by 1.20%, to 77,681.94. But it ended the week accumulating a high of 12%.

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In view of the improvement in investors' moods in the face of reduced pressure from the coronavirus, the dollar closed another day in decline. This change in the pandemic scenario around the world is causing assets considered to be at greater risk to appreciate, for example, the currencies of emerging countries. 

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Dollar and Central Bank

On the day, the US dollar reached a high in the first minutes of trading, but changed its inclination during the morning. At the lowest point, around 12:00, the quotation reached R$ 5.05.

The Central Bank (BC) intervened in the market. The monetary authority did not sell dollars from international reserves today, but chose to auction US$ 297 million in currency swap contracts, the equivalent of selling dollars in the futures market. In 2020, the commercial dollar has already accumulated a high of 26.85%.

Petroleum

The stock market remained on the rise for almost the entire day, but reversed its inclination after the end of the meeting of the Organization of Petroleum Exporting Countries (OPEC). The countries reached an agreement to reduce global production by 10 million barrels per day in May and June. However, doubts whether countries outside OPEC will also reduce production caused several foreign exchanges to fall.

The oil price war started about a month ago, when Russia and Saudi Arabia increased their production, even in the face of falling prices due to low demand caused by the pandemic. Last week, the price of a barrel of the Brent type came to operate close to US$ 20, at the lowest level in 18 years. According to Petrobras, oil extraction in the pre-salt layer only becomes viable for quotations from US$ 45.

Around 18:30, Brent was sold at US$ 31.99, down 2.59%. Petrobras shares also fell. The common shares, which have the right to vote at shareholders' meetings, had a devaluation of 3.66% today. Preferred shares, those with preference in the distribution of dividends, retreated 2.89%.

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