The dollar dropped in value this Thursday morning (Credit: Alexander Mils/Pexels)
(Reuters) – The dollar had a firm drop against the real on Thursday morning, in the penultimate trading session of the year, which tends to be affected by the proximity of the formation of the Ptax rate of the month and with the market also following the speech of the president-elect Luiz Inácio Lula da Silva, who is expected to announce the full composition of his team.
Abroad, investors are keeping an eye on the escalation of Covid-19 contamination in China and are still awaiting weekly data on jobless claims in the US in search of clues about the pace of the Federal Reserve’s monetary tightening.
+ Brazil should end the year with a surplus of 0.4% of GDP
At 10:15 am (Brasília time), the dollar in sight BRBY fell 1.1%, to 5.1961 reais in the sale, after having closed the session the day before in a fall of 0.63%.
The Ptax is calculated at the end of each month by the central bank and financial agents usually try to direct it to more convenient levels for their positions, whether they are bought or sold in dollars, which generally increases volatility.
Investors remain attentive to signs about the fiscal policy of the next government. On Wednesday, the future Minister of Finance, Fernando Haddad, said in an interview with the newspaper O Globo that the economy will need to adjust in the first year of the Lula government, and mentioned the intention to promote a reduction in exemptions and benefits and to review “desperate acts ” right in the first quarter, before focusing on the formulation of a new fiscal rule and on tax reform.
Data from the Central Bank of this Thursday showed that the country’s gross debt fell to the lowest level in almost three years, 74.5% of GDP, in November, driven by a net redemption of bonds and nominal growth in activity.
Just this morning, the Getulio Vargas Foundation reported that the General Market Price Index (IGP-M) rose by 0.45% in December, lower than expected by the market (+0.54%, according to a Reuters poll). In the year, the index rose 5.45%.
(Reporting by Isabel Versiani)
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