Dollar Sees Highest Daily Rise in Seven Months, Closes at R$4.08

RIO DE JANEIRO, BRAZIL – On a day marked by tensions in the financial market, the North American currency saw its highest daily rise in seven months, as the stock market fell.

The commercial dollar closed Wednesday, November 6th, selling at R$4.082 – up R$0.089 (+2.22 percent).

This was the highest for a day since March 27th, when the currency had risen 2.27 percent. The dollar is at its highest price since October 21st, when it was R$4.131.

The day was also marked by fluctuations in the stock market. The B3 (former São Paulo Stock Exchange) IBOVESPA index closed the day with a 0.33 percent drop, at 108,360 points. The indicator began the day high, breaking the 109,000-point barrier, but reversed the trend and began to drop at the end of the morning.

The dollar began to climb, and the stock market fell, after the announcement of the disappointing results of the pre-salt oil transfer of rights auction.

Expecting to collect R$106.55 billion (US$26.64 billion), the auction ended with only R$69.96 billion. Two fields, Sepia and Atapu, failed to attract investors. The other two fields, Búzios and Itapu, were auctioned in a single offer and without a premium over the bid minimum.

In the international scenario, a potential deferral of a trade agreement between the United States and China, the two largest economies on the planet, impacted the international exchanges. The Dow Jones and Nasdaq indices in New York closed in decline.

Source: Agência Brasil