Macroeconomy/Finance

Dollar hits R $ 5.70 with tension by Selic

The exchange rate rally gained a new mark on Wednesday. With the market pressured by the interest rate cut, the dollar climbed and registered a new nominal record against the real. In the session, the tourism dollar advanced 0.3%, ending the day quoted at R$ 5.93 ($ 1). In addition to lower interest rates, which make investments in Brazil less attractive and lead to currency flight, the market also increased tension with the worsening of the country’s risk assessment.

Source: Veja

Categories: Macroeconomy/Finance