Dollar operates in fall, sold close to R $ 5.60; Bolsa advances more than 1% – 05/21/2020


The commercial dollar operated lower and the stock market rose this morning. At around 1:10 pm, the US currency fell 1.58%, to R $ 5.60 on sale, while the Ibovespa, the main index of the Brazilian stock exchange, advanced 1.49%, to 82,528.59 points.

Yesterday, the dollar closed down 1.23%, to R $ 5.69 on the sale, and the Ibovespa rose 0.71%, to 81,319.45 points.

The dollar value released daily by the press, including the Twitter, refers to the commercial dollar. For those who are going to travel and need to buy currency at foreign exchange brokers, the value is much higher.

BC signals greater interventions

Yesterday afternoon (20), the president of the Central Bank, Campos Neto, affirmed that the autarchy has ample space for the sale of international reserves and may increase its performance in the exchange if it considers it necessary.

According to analysts, the signaling from the BC helped to put pressure on the US currency, which had been trading higher in the first minutes after opening due to a lower risk appetite abroad.

“Campos Neto’s statement mentioned that the Central Bank has instruments to act more heavily in the currency,” explained Flávio Serrano, chief economist at the Haitong bank, saying that the BC can avoid an excessively negative dynamic of the real.

But, according to Serrano, the institution’s performance going forward “depends a lot on the market dynamics. The BC has acted clearly: it only intervenes when there are exaggerated movements”.

Amidst a scenario of low interest rates, economic uncertainties and domestic political tensions, the dollar accumulates an increase of almost 40% against the real in the year 2020, and was even a few cents from exceeding 6 reais last week. The BC made specific interventions in the markets in the face of this environment, but some analysts say that these measures were very limited.

This Thursday, the Central Bank is negotiating up to 12 thousand traditional swap contracts with maturity in September 2020 and February 2021 for rollover.

USA and China

Although the focus remained on the BC, investors were also aware of developments in the rhetoric between the United States and China.

In addition, they reflect data that showed a new increase in claims for unemployment benefits in the USA.

Internal political crisis

In Brazil, politics follows the spotlight as markets await the decision of Minister Celso de Mello, of the Supreme Federal Court (STF), on the disclosure of a meeting video that could compromise President Jair Bolsonaro, at a time when the government’s unpopularity is at record highs.

* With information from Reuters

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