Business - Brazil

After Lula’s speech on central bank independence, the dollar jumps, interest rates rise and the stock market falls

By Richard Mann · February 5, 2023 · 1 min read

The dollar and interest rates rose in the Brazilian market on Friday (Feb. 3), after criticism made by President Luiz Inácio Lula da Silva (PT, progressive-globalist) regarding the independence of the Central Bank and the spending cap.

The dollar closed at R$5.04 on Thursday, the lowest level since August 2022 but then jumped to R$5.15.

The U.S. currency showed strength in the external market, which helps explain the high but culminated after the speech of Lula.

Brazilian President Luiz Inácio Lula da Silva (Photo internet reproduction)

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The Ibovespa closed Friday down, even with the slight recovery of Petrobras and Vale. The index fell 1.47%, ending the trading session at 108,523 thousand points.

At the maximum, it reached 110,586 points on Friday.

After the market reactions, Lula returned to criticize the “hypersensitivity” of the market.

Live Market IntelligenceBrazil — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Brazil — Live Market Board

B3 · São Paulo
Aug 8, 2026 · 03:21

Ibovespa · benchmark

172,513.42
-1.73%

L 172,131day rangeH 176,117

+26.36% over 12 months

Market breadth · 15 names

7% advancing

1 ▲ advancing14 declining ▼

Currencies, rates & key inputs

USD / BRL

5.08

-0.51%

EUR / BRL

5.87

-0.97%

Selic rate

14.00%

·

Brent crude

83.55

+1.29%

Iron ore

161.91

·

Sector heatmap · average move today

Consumer Disc.

+5.06%

AZZA3

Materials

-0.64%

SUZB3

Industrials

-0.74%

WEGE3, RENT3

Consumer Staples

-1.15%

ABEV3

Utilities

-1.58%

ENEV3

Financials

-2.13%

ITUB4, BBDC4, BBAS3, B3SA3

Mining

-2.16%

VALE3, CSNA3, GGBR4

Energy

-2.49%

PETR4, PRIO3

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil
172,513.42
-1.73%

S&P/BMV IPCMexico
66,938.64
+0.82%

S&P IPSAChile
11,256.28
-0.17%

S&P MERVALArgentina
3,086,785
-0.45%

MSCI COLCAPColombia
2,350.44
+0.00%

BVL S&P PerúPeru
59,143.04
+0.74%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
IBOV	172,513.42	-1.73%	+26.36%	175,546.36	176,117	172,131	—
USD/BRL	5.08	-0.51%	-6.86%	5.11	5.11	5.07	—
SELIC	14.00%		—	—	—	—	—
PETR4	40.87	-2.99%	+25.64%	42.13	42.96	40.83	97,846,200
VALE3	74.97	-0.56%	+38.42%	75.39	76.13	74.52	13,027,000
ITUB4	40.75	-2.58%	+14.12%	41.83	42.13	40.50	25,565,300
BBDC4	17.31	-2.20%	+9.63%	17.70	17.82	17.25	26,491,400
BBAS3	20.06	-1.08%	+6.08%	20.28	20.40	19.95	17,294,300
B3SA3	14.95	-2.67%	+15.80%	15.36	15.50	14.84	26,669,100
ABEV3	15.48	-1.15%	+23.44%	15.66	15.68	15.45	23,662,500
WEGE3	48.12	-0.58%	+23.38%	48.40	48.40	47.66	6,864,400
PRIO3	57.45	-1.98%	+44.89%	58.61	58.93	57.35	5,807,600
SUZB3	41.70	-0.64%	-22.98%	41.97	42.04	41.14	4,162,200
RENT3	37.82	-0.89%	+6.09%	38.16	39.00	36.30	17,240,400
AZZA3	17.01	+5.06%	-55.33%	16.19	17.25	15.43	6,330,800
CSNA3	4.57	-3.59%	-37.48%	4.74	4.76	4.47	11,198,200
GGBR4	25.05	-2.34%	+54.63%	25.65	25.71	24.79	6,067,000
ENEV3	26.18	-1.58%	+88.48%	26.60	26.69	25.95	5,533,200

Largest moves today

AZZA3
17.01
+5.06%

CSNA3
4.57
-3.59%

PETR4
40.87
-2.99%

B3SA3
14.95
-2.67%

ITUB4
40.75
-2.58%

GGBR4
25.05
-2.34%

BBDC4
17.31
-2.20%

PRIO3
57.45
-1.98%

The session read

The Ibovespa eased 1.73%, with breadth negative — 1 of 15 names higher. Consumer Disc. led, while Energy lagged.

From The Rio Times

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After Lula’s speech on central bank independence, the dollar jumps, interest rates rise and the stock market falls

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Brazil — Live Market Board

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