The dollar fell against the riyal this Thursday, buoyed by a recovery in metal commodity and oil prices, in the face of news of new stimulus to the economy in China.
Offshore, today was also a day to correct the recent rally in the US currency, as investors were more willing to take risks, leaving in the background the possibility of a global recession and the harsh statements of Federal Reserve leaders. Christopher Waller and James Bullard indicated their desire to raise interest rates further in the US, and said that the country’s economy should have a “soft landing”.
In Europe, the ECB meeting minutes left an initial tightening of between 25 and 50 basis points at the July meeting, in a more gradual stance even in the face of high inflation, which helped weaken the euro. In the UK, Boris Johnson’s resignation after a fresh political crisis has brought some relief to the British pound. Here, the focus was on voting on the merits of the PEC in the Special Committee, with approval without new surprises.
The text is still being voted on by the House of Representatives today. The spot dollar closed 1.42% lower at 5.3451 riyals after fluctuating between 5.3310 and 5.4141 Brazilian reais. At 5:15 PM, the August dollar futures contract was down 1.46% to R$5.3830. Overseas, the DXY settled (-0.02%) at 107.070 points, while the euro fell 0.24% to $1.0159 and the pound rose 0.85% to $1.2020.
| Date | Buy | a discount | disparity | disparity |
| 07/01/2022 | 5.3207 | 5.3212 | 1.651% | 0.0864 |
| 07/04/2022 | 5.3247 | 5.3257 | 0.085% | 0.0045 |
| 07/05/2022 | 5.3883 | 5.3893 | 1.194% | 0.0636 |
| 07/06/2022 | 5.4214 | 5.4219 | 0.605% | 0.0326 |
| 07/07/2022 | 5.3446 | 5.3451 | -1.417% | -0.0768 |
Thinking of traveling? Free currency converter!
🇺🇸 – 1 US dollar = 5.34 Brazilian Real
🇪🇺 – 1 dollar = 0.98 US dollars
🇬🇧 – 1 dollar = 0.83 British pounds
Free graphics at br.advfn.com
(With information from BDM, UOl and Agencia CMA)
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.