Business - Brazil Rio de Janeiro

End-of-Year Forex Stays Stable for Brazil Despite U.S. Elections

By Lise Alves · November 7, 2016 · 2 min read

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The volatility seen in financial markets this past week due to the upcoming United States Presidential elections on Tuesday, November 8th, is expected to continue until a winner of the highest position in U.S. government is announced. The forecast for the foreign exchange rate in Brazil at the end of the year, however, has not changed.

Brazil, Brazil News, Rio de Janeiro — The US dollar registers volatility against the Brazilian real due to upcoming U.S. presidential elections, internet photo reproduction.

Financial institutions surveyed for the Central Bank’s Focus Survey calling for the rate to close at R$3.20/US$1 at the end of this year and R$3.39/US$1 at the end of 2017. They also maintained the projection for inflation measured by IPCA index at 6.88 percent this year, according to the weekly Central Bank Focus Survey. For 2017, the estimate for inflation fell from five percent to 4.94 percent.

The latest forecast continues above the target established by the government for this year of 4.50 percent as well as the target ceiling of 6.50 percent. For 2017, the Central Bank maintained the target center at 4.5 percent by reducing the target ceiling to six percent. The latest result, however, is the first time the IPCA forecast for next year falls below five percent since October of 2015.

Forecasts for the country’s Gross Domestic Product (GDP) for this year continued to decline, going from a retraction of 3.30 percent to 3.31 percent. Financial analysts were also more pessimistic with next year’s GDP increase, decreasing their forecast from a growth of 1.21 percent to 1.20 percent.

The latest survey also showed that the forecast for the Selic (annual benchmark interest rate) at the end of the year continues at 13.50 percent. Currently, the Selic rate is at fourteen percent per year. For the end of 2017, the rate expectation is of 10.75 percent, a sign that financial analysts believe that the economy will slowly improve next year.

The Focus Report is a weekly survey conducted by Brazil’s Central Bank with forecasts from more than one hundred financial institutions.

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Brazil — Live Market Board

B3 · São Paulo
Jul 14, 2026 · 12:58

Ibovespa · benchmark

176,315
+0.33%

L 175,743day rangeH 177,179

+30.32% over 12 months

Market breadth · 15 names

53% advancing

8 ▲ advancing7 declining ▼

Currencies, rates & key inputs

USD / BRL

5.08

-1.18%

EUR / BRL

5.80

-0.32%

Selic rate

14.25%

·

Brent crude

85.00

+2.04%

Iron ore

161.91

·

Sector heatmap · average move today

Financials

+0.60%

ITUB4, BBDC4, BBAS3, B3SA3

Consumer Staples

+0.57%

ABEV3

Mining

+0.48%

VALE3, CSNA3, GGBR4

Utilities

+0.41%

ENEV3

Industrials

-0.01%

WEGE3, RENT3

Energy

-0.43%

PETR4, PRIO3

Materials

-1.18%

SUZB3

Consumer Disc.

-1.61%

AZZA3

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil
176,315
+0.33%

S&P/BMV IPCMexico
66,753
+1.18%

S&P IPSAChile
10,928
+0.16%

S&P MERVALArgentina
3,249,089
+0.43%

MSCI COLCAPColombia
2,299.56
-0.35%

BVL S&P PerúPeru
56,428.20
+2.25%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
IBOV	176,315	+0.33%	+30.32%	175,739	177,179	175,743	—
USD/BRL	5.08	-1.18%	-8.88%	5.14	5.13	5.07	—
SELIC	14.25%		—	—	—	—	—
PETR4	40.53	-0.32%	+25.87%	40.66	41.31	40.11	18,383,500
VALE3	74.04	+1.63%	+33.67%	72.85	74.69	73.18	5,665,300
ITUB4	43.64	+0.28%	+28.44%	43.52	44.00	43.61	5,733,700
BBDC4	18.64	-0.69%	+15.83%	18.77	18.99	18.64	14,361,100
BBAS3	20.51	+1.33%	-0.87%	20.24	20.64	20.30	6,585,300
B3SA3	15.34	+1.46%	+12.64%	15.12	15.43	15.15	12,032,800
ABEV3	15.92	+0.57%	+19.79%	15.83	16.00	15.88	5,413,700
WEGE3	44.27	-0.27%	+11.94%	44.39	44.78	44.19	2,175,300
PRIO3	56.89	-0.54%	+32.61%	57.20	57.94	56.38	3,702,100
SUZB3	41.00	-1.18%	-17.80%	41.49	41.65	40.84	1,082,900
RENT3	40.30	+0.25%	+10.50%	40.20	40.66	40.09	1,602,500
AZZA3	18.91	-1.61%	-46.21%	19.22	19.36	18.72	456,400
CSNA3	5.17	-1.34%	-36.95%	5.24	5.36	5.13	4,880,300
GGBR4	23.08	+1.14%	+38.56%	22.82	23.25	22.95	1,450,700
ENEV3	26.99	+0.41%	+104.56%	26.88	27.12	26.72	1,922,200

Largest moves today

VALE3
74.04
+1.63%

AZZA3
18.91
-1.61%

B3SA3
15.34
+1.46%

CSNA3
5.17
-1.34%

BBAS3
20.51
+1.33%

USD/BRL
5.08
-1.18%

SUZB3
41.00
-1.18%

GGBR4
23.08
+1.14%

The session read

The Ibovespa rose 0.33%, with breadth positive — 8 of 15 names higher. Financials led, while Consumer Disc. lagged.

From The Rio Times

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