Dollar closes at R$ 5.91 and exceeds value reached during the pandemic

This Thursday (27), the dollar reached the highest rate in Brazilian history, reaching R$5.91; the highest record previously reached was in May 2020, during the COVID-19 pandemic, reaching R$5.9007. Due to rumors that the current Minister of Finance, Fernando Haddad, may announce the exemption from income tax for people who receive up to R$5,000 in monthly salary, starting in 2026, this generated a strong increase in the dollar. The Minister of Labor, Luiz Marinho, ratified the information without further details to Globo News journalist Julia Dualibi's blog and it is being investigated by Grupo Globo journalists, Guilherme Balza and Gerson Camarotti.

Dollar breaks record achieved during the pandemic

Before the dollar reached the highest number in the country's history, the price of the US currency was at around R$5.84 at 1:40 pm before financial agents learned of the information given by economy minister Fernando Haddad, it subsequently grew rapidly by R$ $5.84 to R$5.90 at 2:10 pm reached a maximum of R$5.93. This value of R$5.91 reached the historic target for the closing of the day, which was during the COVID-19 pandemic, on May 13, 2020. On that day in question, the dollar reached R$5.95 maximum during the day. The following day, the dollar reached a high of R$5.97, however, it closed the day at R$5.82. During the Lula government, the highest dollar index occurred on November 1, 2024, closing at R$5.87, surpassing today's (27), which closed at R$5.91.

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_{Minister of Finance, Fernando Haddad, in Brasília on November 27, 2024 (Photo: reproduction/ Sérgio Lima/Getty Images Embed)}

High occurs due to possible exemption from IR

This Wednesday (27), Minister Fernando Haddad will make a statement on radio and television; The subject to be addressed in the speech was not detailed by the Federal Government, however, there is an expectation that it will refer to the cuts and justify the approved measures. This planning has already been studied for weeks by the government's economic team with the aim of ensuring the sustainability of the new fiscal framework. The financial market believes that savings of R$70 billion will be reported in the two subsequent years, with around R$30 million in 2025. Another possibility that could happen are changes to the BPC known as Continuous Payment Benefit, through adjustments to the minimum wage, salary bonus, military pension and social security. Changes to Vale Gás and super salaries were also validated by Minister Haddad.

Featured photo: 1 dollar bill and 1 real coins (Reproduction/Kimie Shimabukuro/Getty Images Embed)