RIO DE JANEIRO, BRAZIL - The greenback appreciated 1.81% in the first minutes of Thursday (21) and was still trading at R$5.65 for buying and selling in early afternoon.
Turbulence in the foreign exchange market reflects statements by Economy Minister Paulo Guedes on the government's plans to finance a social benefit program through the end of 2022, an election year in which President Jair Bolsonaro intends to run.
Guedes, a Chicago School orthodox liberal, said the day before that the government is considering requesting a "temporary exemption" from the spending cap to be able to pay these . . .