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The possible departure of the Minister of Justice, Sergio Moro, for not agreeing with the exchange that President Jair Bolsonaro intended to make at the head of the Federal Police, excluding the delegate Maurcio Valeixo, caused the dollar to exceed the R $ 5 barrier. , 50 for the first time. in history The closing of this Thursday (4/23) was R $ 5.52. The new record was broken because the financial market, which was already in an extreme scenario of risk aversion due to the new coronavirus pandemic, saw serious uncertainties in the direction of the economy and politics. For this reason, the movement of capital flight has accelerated, which has raised the dollar and lowered the stock market in recent weeks. B3, by the way, had another day of losses and closed with a decrease of 1.26%, to 79,673 points.
On the one hand, investors think that it may not be more profitable to invest in Brazil, since the Central Bank (BC) has indicated that it will cut the basic interest rate (Selic) again, and that low interest rates mean less profitability for fixed income investments. On the other, the permanent crises built by Bolsonaro.
Moro’s possible exit, by the way, only accentuated the market collapse yesterday. The Stock Exchange was trading high before the news was released, due to the recovery in international oil prices, but reached a negative 2% after friction arose between the President and the Minister of Justice. The dollar had risen since the beginning of the morning, due to the possibility that investors would earn less in Brazil with the fall of the Selic rate, but it shot up from R $ 5.45 to R $ 5.52, late, with the possibility of the departure of I live
“It is one of the pillars of the government. It would be a major drop, showing that the government is losing. Therefore, it creates an uncertainty scenario, ”said FBCapital’s foreign exchange director, Fernando Bergallo, and recalled that in the face of the new coronavirus crisis, there are too many uncertainties in the market. “The foreign sector has been guiding the pace recently, as the coronavirus is affecting the economy worldwide. And everything affects the market, “added the chief economist of Ativa Investimentos, Tore Sanchez.
Towards R $ 6.00
For this reason, some analysts even say that if no good news about the new coronavirus dispels some of the insecurities in the coming days, the dollar may hit the R $ 6.00 mark. “The perception that it is easier to reach R $ 6.00 than to return to R $ 5.00. After all, we don’t expect much to improve. We see a risk aversion rally around the world; the world’s largest economy (the United States) remains out of control and, here, no one knows when this will happen (the effects of the pandemic), “said Bergallo, admitting that” no one else dares “to set a limit for the dollar. All in all, the US currency began trading at R $ 4.02 in 2020 and now exceeds R $ 5.50. In other words, it increased R $ 1.50 in less than four months. “In the year, the increase in 38%. I don’t remember such a high amplitude at such high speed, “said Bergallo.
According to FBCapital’s foreign exchange director, the increase was so abrupt that it has not been positive even for the sectors that normally benefit from the currency increase. “When it becomes as disruptive as that, it doesn’t have a silver lining because the export segments also need to import inputs that are priced in dollars,” Bergallo explained, recalling that increasing the currency may still increase the price of imported products. , like wheat. “The government itself has a commitment in foreign currency, the cost of which increases when the exchange rate shoots up. Therefore, I cannot see a positive side of everything, “Bergallo lamented.
Dollar in the Heights
R $ 5.52
The new record. Yesterday’s High was 2.19%
R $ 1.52
how much the coin rose this year 38% high
R $ 0.28 was the maximum of this week 6.4% maximum
See the evolution of the US currency in 2020:
January 2
R $ 4.02
January 15
R $ 4.18
February 3rd
R $ 4.23
February 17th
R $ 4.32
March 2
R $ 4.48
March 16
R $ 5.04
April 1st
R $ 5.26
April 15
R $ 5.24
April 20th
R $ 5.30
April 22
R $ 5.40
April 23rd
R $ 5.52
