Monday, April 12, 2021

Dollar rises with adjustments to resume aid; Ibovespa falls to 119 thousand points – Prime Time Zone

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Market continues to take care of the dealings between the economic team and the Legislature to end the return of the benefit next month

Archive / Brazil AgencyDollar remains pressured by Brazilian fiscal risk

The arrangements between the federal government and Congress for the resumption of emergency aid continue to pressure the mood of the financial market this Thursday, 18th. After opening in fall, the dollar reversed the signal and at around 12:30 pm it registered an increase of 0.55%, to R $ 5.445, reaching the maximum of the day. The minimum did not exceed R $ 5.387. The day before, the US currency closed with an increase of 0.76%, quoted at R $ 5.415. The apprehension with fiscal risk also impacts the performance of the Brazilian Stock Exchange. THE Ibovespa, B3’s main index, fell 0.85% to 119,334. The trading session on Wednesday, 17, closed with an advance of 0.78%, above 120 thousand points for the first time since February 5.

The market remains attentive in the dealings between the economic team and the Legislature to end the resumption of emergency aid, despite all the spotlight in Brasília being turned to the unfolding of the prison of federal deputy Daniel Silveira (PSL-RJ). Congressional leaders are due to receive the Ministry of Economy’s final study on the benefit this week. The expectation of the team led by Paulo Guedes is to deliver the first installment as early as next month. The Union works with an estimated budget of R $ 30 billion, enough to extend the payment of R $ 250 to approximately 30 million Brazilians for four months. While discussing technical advice, members of the federal government seek consensus with Congress to approve counterparts that limit public spending. After yielding to pressure from the Legislature for new rounds of benefit, the Minister of Economy conditioned the return to the creation of the public calamity clause in the PEC of the Federative Pact. The measure removes strings from the public budget and creates triggers to avoid the increase in expenses, such as salary readjustments and hiring of public employees.

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