Welfare Vote: Brazil’s Ibovespa Closes at Record High; Dollar Drops to R$ 3.75

Brazil's stock exchange reached a new high at the close of business on Wednesday, July 10th, driven by market optimism following the positive outcome of the first round voting on the Social Welfare reform in the Chamber; the dollar fell to its lowest level since February 2019.

SÃO PAULO, BRAZIL - The Ibovespa stock index reached a new closing high this Wednesday, driven by the optimism in the market with the start of voting on the Social Welfare reform in the Chamber of Deputies plenary.

The index rose 1.23 percent to 105,817.06 points. As a result, it accumulated a rise of 20.4 percent in 2019. The session's financial volume totaled R$21.5 (US$5.73) billion.

The market monitored the voting process onSubscribe to our Premium Membership Plan. Already Subscribed?