04/07/2024 – 9:26
The dollar fell sharply against the real in early trading on Thursday, the 4th, extending the previous day’s losses, as investors’ concerns about public finances eased following speeches by President Luiz Inácio Lula da Silva that reaffirmed the government’s fiscal commitment.
At 9:08 am, the spot dollar fell 1.36%, to R$5.4936 for sale. At B3, the first-maturity dollar futures contract fell 1.08%, to R$5.5090.
On Wednesday, the spot dollar closed at R$5.5693 for sale, down 1.72%, the biggest percentage drop in a single day since January 6, 2023.
Finance Minister Fernando Haddad made a statement on Wednesday night, the 3rd, to reiterate the government’s commitment to the fiscal framework and targets and announce that R$25.9 billion in mandatory expenses have already been identified that could be cut from the 2025 Budget.
In this session, the Central Bank will auction up to 12,000 traditional foreign exchange swap contracts for the purpose of rolling over the maturity date of September 2, 2024.
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