RIO DE JANEIRO, BRAZIL – The commercial dollar closed this Monday, October 28th, sold at R$3.992, down R$0.017 (-0.44 percent). The last time the currency closed at this level was on August 15th (R$ 3.99).
The dollar traded down throughout the session. At the lowest point of the day, around 12 noon, the rate reached R$3.975. The currency has accumulated a drop of 3.94 percent so far in October.
In the stock market, the day was also marked by optimism. The B3 Ibovespa index closed the day at 108,187 points, up 0.77 percent. The indicator once again reached its highest level in history, exceeding the previous record (107,543), recorded last Wednesday, October 23rd.
Since the approval last weekby the Senate in the second round of the Social Welfare reform, the dollar has been dropping, and the stock market has climbed, with some fluctuations in days. The international scenario has also contributed to optimism in the financial market.
The suggestion that US President Donald Trump intends to sign part of the trade agreement with China before the Asia-Pacific Economic Cooperation Forum (APEC) summit, to be held on November 16th and 17th, has eased pressure on the dollar.
The European Union’s decision to agree to postpone Brexit (Britain’s withdrawal from the bloc) until January 31st also relieved the international markets.
Source: Agência Brasil