Dollar hits R$3.16, the highest price in ten years
The dollar rose again and closed out Thursday (Mar. 12) up 1.08% at R$3.161. This is the highest dollar price against the real since June 14, 2004, when it closed at R$3.165.
The US currency, which reached a lower R$3.08 in the morning, shifted trend and now counts a cumulative 3.44% appreciation this week. In the month so far, the cumulative increase is 10.7%, and 18.91% this year.
The news of recovery in the US economy fueled the dollar appreciation against the real as it strengthened expectations that the Federal Reserve may increase interest in the world's largest economy.
Higher interest rates in developed countries draw investors and reduce the flow of capital to emerging countries like Brazil, thus making the US currency more expensive.
Translated by Mayra Borges
Fonte: Dollar hits R$3.16, the highest price in ten years
