The dollar closes on the holiday evening with a decrease of 1.02% and is worth R$ 4.62

RIO DE JANEIRO, BRAZIL – On Wednesday (20), preceding the holiday of Tiradentes, the positive flow helped, and the dollar depreciated by 1.02% to close the day worth R$4.6204. The euro also fell by 0.40% to settle at R$5.0175.

In Brazil, the privatization process of Eletrobras was the focus of investor interest, as Minister Vital do Rego of the TCU (Federal Audit Office) confirmed that he would ask for a 60-day review of the privatization process of Eletrobras.

The meeting began at 2:30 p.m. and has not produced a concrete result yet. Vital do Rego said, “it will not be privatized, but liquidated if the proposed model is implemented.” The minister also stated that “this is not a government decision.

This is because Jair Bolsonaro would have called other ministers directly and asked for “common sense.” Former President Lula has stated that if elected, he will reverse the company’s privatization.

The government plans to ask one of its appointees, Jorge Oliveira, to shorten the deadline for the review from 60 to 7 days so that the process could continue this year.

The Central Bank also brought news on the eve of the holidays. The servers of the autarchy have decided to suspend the strike for two weeks to make progress in negotiations on salary increases and restructuring of careers.

The dollar traded between R$ 4.6802 and R$ 4.6089 during the day. The euro already registered a maximum of R$5.0781 and a minimum of R$5.0024.
Over there

The release of the Beige Book by the Federal Reserve helped investors learn a little more about the path of the U.S. economy. The numbers show that activity has recovered, while covid falls.

However, inflation remains a concern as demand remains very high in many areas, from commodities to the labor market.

The factory closures promoted by China as part of its “zero covid” strategy and the Russian invasion are not positively affecting prices, as energy and food are becoming more expensive.

Incidentally, the war in Ukraine continues to fuel a climate of caution around the world as prospects for a diplomatic resolution to the conflict become increasingly remote as Russia steps up its attacks to regain control of the Donbass region.

The DXY, an index that compares the dollar against its peers, recorded its first decline this week, suggesting that the U.S. currency is losing strength against currencies such as the euro and the pound.

Related coverage: 95% of Brazilians feel the effects of inflation – survey CNI · Brazil: In partnership with GOL, Mercado Libre will operate up to 12 aircraft exclusively for shipping · Automotive assembly in Brazil continues to record declining production figures · Indigenous peoples complain of harassment by illegal miners on their land in the Brazilian Amazon

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error

Brazil runoff, Sunday, October 25: When is the Brazil runoff election. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.