Brasília – In yet another turbulent day for the financial market, the United States currency closed virtually flat this Friday (12th). The commercial dollar ended the week selling for R$ 2.651, up 0.14% from the day before. The price is the highest since April 4th 2005, when the dollar closed at R$ 2.659.
Throughout the morning, the dollar dropped occasionally, but soared after 12pm. The currency peaked at R$ 2.675 around 2pm but lost steam in the following hours. The dollar-to-real ratio is up 3.1% to date in December and up 12.46% year-to-date.
After a slight increase on Thursday (11th), the São Paulo Stock Exchange (Bovespa) took a significant hit again this Friday. Ibovespa, the stock exchange’s main index, closed down 3.73% to its lowest level since March this year. The decline was partly driven by a 6.56% decline in Petrobras preferred stock, the most traded.
*Translated by Gabriel Pomerancblum
