The dollar even dropped to R$4.99 this Wednesday (16.Jun.2021). The US currency registered a fall in the country in preparation for the announcement of the basic rate, the Selic. At 1 pm, the dollar was quoted at R$ 5, down 0.88%
Investors anticipate the announcement of the Copom (Monetary Policy Committee) meeting, which will define today the new level of interest rates.
The rate interferes with investments in dollars, because it impacts the level of remuneration of the financial investment. The higher the interest, the more attractive it is to allocate resources in the country.
The Copom signaled that it will increase the Selic to 4.25% per year. It currently stands at 3.5%. The high serves to control inflation, which reached 8.06% in the 12-month period up to May.
The 1st time the dollar surpassed R$ 5 was on March 16, 2020. The last time it had fallen below this level was on June 10 of last year, more than a year ago.