On a day of tension and volatility in the financial market, the dollar decelerated throughout the afternoon and closed at close to R$ 5.20, after hovering around R$ 5.30 during the session. The stock market started the day with a sharp drop and recovered during the day, influenced by the appreciation of commodities (primary goods with international quotations) and by the relief in the foreign market.
The commercial dollar ended this Tuesday (3) sold at R$ 5.193, with an increase of R$ 0.027 (+0.53%). The currency started the day at a strong high. At the maximum of the day, around 11:10 am, it reached R$ 5.27. In the following hours, the price returned to fluctuate around R$ 5.20, until closing a little below that value.
The stock market had an equally volatile day. The Ibovespa index closed at 123,577 points, with an appreciation of 0.87%. The indicator came to fall 1.31% at the end of the morning, but reversed the movement throughout the afternoon, until it ended on a high.
Doubts surrounding the proposed amendment to the Constitution (PEC) which provides for the installment payment of court orders (debts paid by the government by final court decision) shook the financial market. This morning, minister Paulo Guedes explained that the proposal foresees the debt installments above R$66 million. The market only calmed down in the afternoon, when the president of the Chamber of Deputies, Arthur Lira, denied that the fund that will finance the installment payment is outside the spending ceiling.
In the case of the stock exchange, the disclosure of bank earnings in the second quarter helped consolidate gains on the Ibovespa. The appreciation of the international price of iron ore helped shares of mining companies. US stock gains also helped reverse the morning’s losses.
*With information from Reuters
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