Dollar reaches for the first time in history the quotation of R$ 5.83 even in the face of the tension of the global economy with the expansion of the coronavirus
At 12:10 this Thursday (7) the dolar was traded to R$ 5.8886, up to 1.08%. Reaching the maximum of R$ 5.8616 so far. going up through seventh consecutive session.
The dollar (tourism) was traded around R$ 5.86, disregarding the IOF (Financial Operations Tax) charge. Apost 7% tumble in the previous session.
Covid-19 is turning the world upside down
The day before, the dollar closed at a high of 1.10%, at R$ 5.8507, renewing the nominal closing record (without considering inflation). Reaching R$5.86 at the high of the session, so far the highest intraday nominal price ever recorded in the country. In that month the dollar accumulated a high of 3.36%. In 2020, it grew by 10,75%
Coronavirus and global tension
Last Wednesday (7), the number of cases of the coronavirus pandemic increased, including confirmation of an infected person in Brazil. Fears grow in the face of the impacts of the virus on the economy.
“The impact of the coronavirus remains an unknown and a threat to the world economy”, summarized in a note Jefferson Rugik, from Correparti Corretora, citing protection movements.
Due to the large flow of capital to lower risk markets, the dollar continues to appreciate against other currencies around the world, especially against currencies from emerging countries such as Brazil. It also gains strength against the Mexican and Chilean peso, Turkish lira, and South African rand. In relation to strong currencies, it had a sharp drop of 0.28%. Losing almost 0.5% against the yen, a sign of caution in the international arena.
Central Bank Strategy
In an attempt to limit the rise in the dollar, the Central Bank held an extraordinary auction of up to 20,000 traditional swaps. Due in August, October and December of this year 2020.
“The market was already counting on this auction, so it wasn't new” – said economist Silvio Campos Neto. This limited the ability of the Central Bank to curb the US currency.
Anyway, did you like it? Then leave your comment!
Source: G1 news
