RIO DE JANEIRO, BRAZIL – The dollar opened high on Thursday, December 5th. At around 9:30 am the dollar reached R$ 4.22, but reversed the trend in the early afternoon and began to fall.
Market participants attributed the dollar’s sudden decline to market interventions by the Brazilian central bank.
A few days ago, Donald Trump had accused Brazil and Argentina of keeping the value of their currencies artificially low.
In the stock market, the day was also one of optimism. The B3 Ibovespa index, the former São Paulo Stock Exchange, hit a record and closed at 110,622 points, up 0.29 percent.
Petrobras shares, the most traded on the stock exchange, rose 1.3 percent (common and preferred shares), contributing to the good performance of the stock market index.