Dollar Surpasses R$4.12 and Closes at Highest Value in Almost One Year

The dollar and the stock market had started the session relatively stable but began to oscillate after China confirmed that it would surcharge U.S. agrobusiness products by five and ten percent.

RIO DE JANEIRO, BRAZIL - Amidst heightened trade tensions between the United States and China, the U.S. currency rose again against the Real and closed at its highest level in almost a year.

The commercial dollar closed this Friday, August 23rd, at R$4.124,  which is 1.15 percent higher than the day before. The currency is at its highest since September 18th of last year (R$4.14).

The stock market suffered considerable losses. The Ibovespa Index, from B3 (São Paulo Stock Exchange), closed the day with a 2.62 percent drop, at 97,391 points. The . . .

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