RIO DE JANEIRO, BRAZIL - Following a day of historical losses and global panic, the stock market recovered part of its losses, and the dollar experienced its highest daily drop in six months.
The US dollar closed Tuesday, March 10th, at R$4.64, down R$0.08 (1.69 percent) from the R$4.72 close on Monday. In percentage terms, it was the highest daily drop since September 4th last year, when the currency slid 1.79 percent.
The Central Bank sold dollars from international reserves to ease the market for the second consecutive day. The monetary authority sold . . .