The dollar fell shortly after opening this Friday (1st), on the way to a new weekly devaluation against the real with the maintenance of flows to Brazil, while investors monitored the strike of Central Bank servers and fears of recession abroad.
At 9:06 am (GMT), the spot dollar retreated 0.78%, to R$ 4.7258 on sale.
On B3, at 9:06 am (GMT), the first-maturity dollar futures contract dropped 0.40% to R$4.7630.
The day before, the spot currency fell 0.47%, to R$ 4.7628.
The barrel of Brent oil retreated 2.50%, to US$ 105.21 (R$ 498.40) in the early morning of this Friday, after having fallen 4.88% the day before.
The commodity’s drop is a market reaction to a potential increase in supply a day after the administration of Joe Biden announced a plan to release approximately one million barrels of oil a day from strategic US reserves.
Up to 180 million barrels could be released over six months. The plan is to use the reserves to fight fuel inflation, which was accelerated by the strong appreciation of the raw material since the beginning of Russia’s invasion of Ukraine.
The appreciation of oil in the last month, reaching the highest prices since 2008, is one of the main symptoms of the market’s view that sanctions on Russia, one of the main exporters, could reduce supply for a long period, giving breath to the rise in global inflation.
On Thursday (31), the dollar fell 0.50%, to R$ 4.7610. As a result, the American currency accumulated a 14.6% drop in the first three months of 2022, the largest for a quarter since June 2009.
In the month, the dip was 7.6%. The last time the monthly devaluation of the dollar against the real had touched 8% was in October 2018.
On the Brazilian Stock Exchange, the Ibovespa was unable to sustain 120 thousand points. After oscillating close to stability, the country’s main stock market index dropped 0.22% to close at 119,999. In the quarter, however, the accumulated gain is 14.5%, the highest since December 2020. In the month, the increase of 6.06% is the highest since January.
with Reuters
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