Dollar drops and Bovespa remains stable

16 de maio de 2016

The financial market awaits the announcement of economic measures this Tuesday. The North American currency closed the day at BRL 3.504.

São Paulo – The dollar closed Monday (16) at BRL 3.504, a decline of 0.56%. Meanwhile, the São Paulo Stock Exchange main index (Ibovespa) remained stable at 51,802 points. The stocks with the steepest decline were those from the Grupo Gerdau, a devaluation of more than 7%, due to the indictment of the company’s president, André Gerdau and other executives of the company for tax fraud.

According to information from news agency Reuters, the financial market is awaiting, in the next few days, the announcement of measures by the new economic team, which took office with interim president Michel Temer on Thursday (12). The most anticipated information by investors is about the name to be chosen for president of the Central Bank, which should be announced this Thursday (17).

*Translated by Sérgio Kakitani