Dólar recua para R$5,86 após alta da Selic; Ibovespa drops over 2% after reaching R$5,97

Following the recent increase in the Selic rate, the Brazilian real has weakened significantly against the dollar, which is now valued at R$5.86. The Ibovespa index has also experienced a notable decline, dropping over 2% in early trading. The market reacted sharply to the Central Bank's monetary policy adjustments, with analysts indicating that the rise in interest rates has reversed the previous downward trend of the dollar. As of midday, the dollar had reached a peak of R$5.97 before settling lower. The sell-off in equities reflects concerns over the impact of higher borrowing costs on economic growth.