Brasília – Amid uncertainty surrounding the US’ steel and aluminum import tariff hike, the dollar hit a one-month peak this Thursday (8) in Brazil as it climbed BRL 0.02 (0.63%) to BRL 3.265 by closing time, the highest price since BRL 3.302 on February 9.
The currency went up for the second straight day. It stayed virtually flat during the morning, before gaining during the afternoon. Well into the afternoon, president Donald Trump signed in on a 25% tariff hike for steel and a 10% hike for aluminum. Canada and Mexico are not included in the measure. Countries regarded as allies to the United States, such as Brazil, can talk their way into exemption.
Stock markets adjusted accordingly. Ibovespa, the main São Paulo Stock Exchange index, slid 0.58% to 84,965 points, going down for the third day in a row.
*Translated by Gabriel Pomerancblum