São Paulo – The US dollar price and the São Paulo Stock Exchange (Bovespa) closed up this Wednesday (16). The dollar climbed 1.24% relative to Brazil’s real to end the day selling for BRL 3.925.
The main reasons for the dollar hike include Brazil’s credit downgrade by agency Fitch Ratings this Wednesday, political turmoil and the expected interest United States rate hike, which proved true after the trading day was over in Brazil.
Bovespa was up 0.32%, to 45,015 points. The highest gaining stocks were those of electricity companies, telecom companies and mining company Vale.
*Translated by Gabriel Pomerancblum

