Brazil’s Ibovespa index closes with zero gains for 2023

The main Index of the Brazilian Stock Exchange, Ibovespa, ended the trading session with zero gains this year this Friday, Feb. 3. The indicator fell to just over 108 thousand points. That is, 1% less than on the last trading day of 2022.

At the same time, the commercial dollar soared and ended the trading session at the highest value of the week: practically R$5.15.

Thus, there was a 2% increase over the previous day.

In relation to the final quotation of the previous Friday, the rise was close to 1%.

The bad results in the Brazilian Stock Exchange occurred one day after President Luiz Inácio Lula da Silva made new attacks on the Central Bank’s autonomy.

“I’m going to wait for this citizen Campos Neto to finish his mandate so we can evaluate what the independent Central Bank has meant,” said Lula.

The term of the president of the monetary authority ends in December 2024. After that, the Brazilian presidential candidate can appoint a new name for the position.

“What happens is that we used to talk,” said the politician. “Is this country doing well? Is this country growing? Are people’s lives improving? No. So, I want to know what the point of independence was.”