Dollar Closes at R$5.45 One Day After Brazilian Secretaries Leave

The Brazilian real broke away from other currencies and lost value after two Special Secretaries of Economy resigned.

RIO DE JANEIRO, BRAZIL - The day after the announced departure of two Secretaries from the Ministry of Economy, the dollar climbed and the stock market closed virtually stable. On Wednesday, August 12th, the commercial dollar closed at R$5.453, up R$0.038 (+0.7 percent).

The Brazilian Real broke away from other currencies and lost value following the confirmed resignations of the Special Secretaries of Privatization, Disinvestment, and Markets, Salim Mattar, and of Debureaucratization, Management, and Digital Government, Paulo Uebel. On Tuesday evening, the Minister of Economy Paulo Guedes described their departure as "a stampede".

At around 3 . . .

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