Dollar Rises and Closes at R$ 5.30

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Dollar Strengthens Amid Middle East Conflict Uncertainty and Market Instability

On November 20, the dollar closed up 1.79 at R 5.3085, while Brazil’s Ibovespa stock index fell 2.25 to 176,219 points. Increased caution prevailed in the markets as investors sought safer assets like the U.S. dollar, a move driven by fears regarding the intensity and duration of the Middle East conflict. Over the past six months, 1 USD has been worth about 5.34 BRL on average. The Middle East conflict, entering its fourth week on Saturday, November 21, fueled market instability and drove oil prices higher. After reaching US$119 on Thursday and then slightly declining, the commodity rose again on Friday. Brent crude, the global benchmark, traded at approximately US$111.97 by 5 PM, while European natural gas, which had risen 35% on Thursday, fell 4.20% at the same time. Adding to market concerns, remarks by then-U.S. President Donald Trump regarding NATO allies and a ceasefire in Iran were also noted. According to G1, major central banks—the Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, and Bank of Japan—chose to hold interest rates steady while monitoring the conflict’s economic effects.

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