IBOVESPA Rises Three Percent Amid Coronavirus Relief; Dollar Drops to R$5.22

The market experienced an encouraging day amid the downturn led by the pandemic and the dollar dropped to R$5.22.

RIO DE JANEIRO, BRAZIL - The IBOVESPA closed up strongly on Tuesday, April 7th, but drifted away from the highs while Wall Street zeroed out gains at the end of the trading session.

Doubts about whether an agreement between Russia and Saudi Arabia can make up for the drop in demand for oil eventually weighed in, and the Brent crude barrel fell 1.63 percent to US$32.51. The WTI barrel fell 5.87 percent to US$24.55.

However, this was not enough to fully discourage the Brazilian market, which remained strong due to the slowdown in the growth . . .

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