Dollar trades sharply higher, jumping 6% at opening. Central Bank takes action with auction announcements and manages to slow down the currency
This Thursday (12) at 2:11 pm the US currency rose 1.54% to R$ 4.79. Earlier at the opening it jumped 6% hitting R$ 5.02, assuming the new nominal maximum ever recorded in the country (disregarding inflation).
This year, the dollar has appreciated 19.26% against the real.
The tourist dollar was traded at R$ 5.0842, without considering the IOF charge. In currency exchanges, the dollar was sold for above R$ 5.10. In purchases made with prepaid cards, the rate exceeded R$ 5.30.
The rally lost momentum after the Central Bank took strong action in the foreign exchange market and the US Central Bank announced an injection of US$1.5 trillion to try to calm investors. The commercial dollar closed up 1.38%, at R$4.786 on sale. This is the highest nominal closing value since the creation of the Real.
Stock Exchange stops again
The stock market was halted again on Thursday, after the second circuit breaker of the day was activated. At 1:19 pm, the Ibovespa was down 17.71%, at 70,087.
The Central Bank took intensive action in the foreign exchange market, with an offer of up to US$1.5 billion in spot currency, canceling the initial announcement of a sale of up to US$1.5 billion made the previous day. This was the only measure that managed to somewhat halt the dollar's rise.
“The Central Bank was unable to sell everything offered at the auctions because there is no demand at the spot price. There is demand in the future (dollar), a protective measure,” said Jefferson Laatus, partner and founder of the Laatus group.
The day before, the dollar closed the day at R$ 4.7215, up 1.65%. This week, the dollar had accumulated a high of 1.88% up until Wednesday's auction. And in the partial for March, the advance is 5.37%.
Before the current round of auctions, the Central Bank had not carried out this type of operation since December 20 of last year.
Current dollar auctions from reserves have been taking place alternately with foreign exchange swap offers.