The dollar is running higher against the riyal in the first negotiations this Tuesday (25), recovering part of the previous day's losses, as investors analyzed the minutes of the latest meeting of the Monetary Policy Committee (COPOM) and echoed what the manager said. Speeches by BC Gabriel Galipolo.
In the minutes, Coboom highlighted that the re-stabilization of inflation expectations is considered by the central bank's Governing Council to be an essential element to ensure that inflation converges with the target. The Bank of Colombia also reported that it marginally increased the assumption of the neutral real interest rate, which neither stimulates nor decelerates the economy, from 4.5% to 4.75%.
In a video conference promoted by Warren, Galipolo considered that the central bank is not working with an exchange rate target or interest differential, but rather an inflation target, which “is not discussed, but achieved.”
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What is the dollar exchange rate today?
At 11:21 a.m., the spot dollar rose 0.82%, reaching R$5.435 in purchases and sales. At B3, the first-month dollar futures contract DOLc1 rose 0.66%, reaching R$5.432.
On Monday, the dollar in cash closed the day at 5.3904 riyals for sale, down 0.94%, after reaching its highest closing value in almost two years last Thursday.
In this session, the Central Bank will offer up to 12,000 traditional currency swap contracts for the purpose of extending the maturity date of August 1, 2024.
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Trade dollar
- Purchase: R$5,435
- Sale: 5,435 Brazilian reals
Tourism dollars
The US currency actually started the day higher, but its gains accelerated with the fallout from Gallipolo's speeches and federal revenue data. The federal government's real revenues rose by 10.46% in May compared to the same month of the previous year, reaching R$202.979 billion, the highest collection for the month since 2000, the Federal Revenue Service said on Tuesday (25).
British Columbia's monetary policy director said the economic scenario has brought new adversity, including an exchange rate that has “moved a lot,” which is creating “inconvenience.”
“We have a scenario that brings new adversities, an exchange rate that moved a lot from one cycle to another, and there is discomfort related to this exchange rate that moved a lot,” he said, also pointing to a worsening of inflation expectations.
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(Reuters)
