São Paulo – The US dollar dropped 0.56% this Wednesday (16) to BRL 3.422, ending a four-day run of gains since Donald Trump’s United States presidential election win was confirmed. Monday (14) had seen the dollar reach its highest price since June 16. There was no trading on Tuesday (15), the Proclamation of Republic holiday in Brazil.
This Wednesday saw the Central Bank hold two dollar auctions on the futures market to try and curb the hike, and that was a factor in the currency drop.
Ibovespa, the main São Paulo Stock Exchange Index, closed up 1.85% to 60,759. Reuters said the performance was most fueled by Petrobras and banks’ shares.
Ibovespa climbed for the second day in a row, after dropping for several days back-to-back, also in the wake of Trump’s win.
*Translated by Gabriel Pomerancblum
