Dec 6, 03:09 PM

Brazil's Ibovespa Falls 1.5%, Dollar at R$6.07, Euro at R$6.41 Amid Fiscal Concerns

The Brazilian financial market has experienced significant movements, with the Ibovespa index closing at 125,946 points, marking a 1.5% decline on December 6, 2024, due to fiscal uncertainties and the performance of blue-chip stocks. Despite the daily drop, the index recorded a weekly gain of 0.22%. The dollar reached a record high of R$6.07, reflecting market reactions to Brazil's fiscal challenges and expectations of slower interest rate reductions in the United States. The euro also rose to R$6.41. Key stock movements included a sharp drop in CVCB3 (-11.59%) and gains for EMBR3 (+1.7%). The Central Bank of Brazil is expected to raise the Selic rate by 75 basis points to 12% on December 11, continuing its efforts to combat inflation.

#Brazilian #Brazil #United States #Central Bank of Brazil #Selic

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