Brasília – One day after having reached its highest price since May 2005, the United States dollar reversed its upward trend. By the end of the trading day this Tuesday (28th), the commercial dollar was selling for 2.474 Brazilian reais, down 1.94%. Last Monday (27th), the currency had closed at R$ 2.523.
The US currency remained bearish throughout the day. Around 2pm, the dollar neared 2.49 reais, but fell again during the final trading hours. Following the decline, the dollar remains up 1.06% month-to-date and up 4.94% year-to-date.
Apart from tensions caused by the presidential elections in Brazil, external factors have pressured the exchange rate for the past few weeks. Last September, the United States’ Federal Reserve eased its stimulus to the country’s economy. The decision prompted dollar prices to start climbing.
*Translated by Gabriel Pomerancblum
