Dollar up and stock exchange at lowest in six years

After a day of truce in the financial market, the dollar closed at R$ 3.947 this Friday (Dec. 18), up 1.47%, a record high since October 1 (R$ 4.002). The day also faced losses on the São Paulo Stock Exchange, which closed the day at the lowest in six years.

The exchange rate started the day on the rise, but the price skyrocketed after Finance Minister Joaquim Levy's statements during a breakfast with journalists, when he evaded confirming his resignation, but said changes in the economic policy depended on what the government deems as its priorities.

After today's developments, the US currency is up 1.55% in December and 48.45% in 2015.

The day also saw heavy losses at the Stock Exchange. The benchmark Ibovespa stock index slipped 3.98% and closed out Friday at 43,911 points, the lowest since April, 2009. The sharpest losses hit financial institutions. The securities of BB Seguridade, insurance subsidiary of Banco do Brasil, plunged 7.31%. Bradesco's shares of common stock fell 6.04%.

Translated by Fabrício Ferreira