RIO DE JANEIRO, BRAZIL – On a day of financial market optimism, the US currency closed at its lowest level in 52 days.
The US dollar closed at R$4.05 on Friday, December 27th, down R$0.017 (-0.42 percent). The currency is at its lowest level since November 5th, when it was sold at R$3.993.
The currency traded low throughout the session. The dollar accumulated a 4.5 percent drop in December.
In the stock market, the day was marked by earnings, when investors sold securities to pocket gains. After breaking a record and closing above 117,000 points for the first time, the IBOVESPA index, of the former São Paulo Stock Exchange (B3), closed at 116,534 points, down 0.57 percent on Friday.
The last few weeks have been marked by gains in the financial market after the Standard & Poor’s rating agency announced that the outlook for Brazil’s public debt rating rose from stable to positive.
The decision suggests that the agency may raise Brazil’s sovereign credit rating in the next two years should the country proceed with its reform and public spending reduction agenda.
The closing of the first stage of the trade agreement between the United States and China has also contributed to optimism regarding emerging economies such as Brazil.
Source: Agência Brasil