2023-10-23 23:38:00
Dollar bills on a table (Photo: Reuters/Mohamed Abd El Ghany)
The relief in the North American market made the dollar approach R$5 and close at its lowest level in almost a month. The stock market also fell, influenced by an announcement from Petrobras.
The commercial dollar ended this Monday (23) sold at R$ 5.017, a drop of R$ 0.014 (-0.29%). At around 2pm, the price reached below R$5, but was unable to sustain the fall for the rest of the afternoon.
The North American currency is at its lowest value since September 26, when it was sold at R$4.98. With this Monday’s performance, the currency, which rose in October, accumulated a drop of 0.2% in the month. In 2023, the dollar falls 4.98%.
Ibovespa – The optimism in the exchange rate was not repeated in the stock market. B3’s Ibovespa index closed at 112,784 points, down 0.33%. This was the fifth consecutive drop in the stock market. The indicator started to rise, but began to fall after the announcement that Petrobras is making a proposal to reformulate the company’s bylaws.
Petrobras’ common shares (with voting rights at shareholders’ meetings) fell 5.81%. Preferred papers (with preference in the distribution of dividends) plummeted 6.37%. As the company’s shares have greater weight in the Ibovespa index, the drop influenced the performance of the Brazilian stock exchange.
Across the planet, the dollar fell and stock markets had a rising day as tensions in the North American financial market eased. Rates on long-term US Treasury bonds, which a few weeks ago reached their highest level since 2007, fell sharply this Monday. Drops in interest rates on these investments, considered the safest investment in the world, encourage the entry of capital into emerging countries, such as Brazil.
Despite the worsening of the conflict between Israel and the Palestinian group Hamas, the financial market has not yet suffered significant turbulence because the war, unless it spreads across the Middle East, has little impact on oil production.
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