Dollar climbs anew

09 de junho de 2016

São Paulo – The foreign market outlook weighed down on Brazilian financial markets this Thursday (9). In the wake of a bearish run that lasted four days, the dollar was up 1% to BRL 3.404. One of the reasons was a new drop in commodity prices, notably oil. The Brazilian Central Bank did not carry out foreign exchange operations, on a day that saw its new governor Ilan Goldfajn take office.

The same factors swung Vale and Petrobras share prices on the São Paulo Stock Exchange (Bovespa). Ibovespa, its main index, was down 0.99% to 51,118 points. The biggest losing shares were Vale common shares, which were going for BRL 15.70 at closing time, a 7.65% drop, and the stock of iron and steel companies CSN and Gerdau.

*Translated by Gabriel Pomerancblum