XP's analyst foresees U.S. dollar at R$ 2,15 in the beginning of 2013
U.S. dollar goes uptrend around the world
especially here in Brazil
today it wasn't different.
The U.S. currency ended up and is around R$ 2,10
Let's talk now to Caio Sassaki, foreign exchange analyst at XP Investments
How are you, Caio?
I'm fine.
What is the reason for this high today?
Government kept the average interest rate
caused an inflation
which impacts the foreigh exchange
U.S. dolar went long during morning
but lost strenght during afternoon
especially in the U.S. dollar futures price
with expiration December
This happen due to U.S. dollar futures expiration in this month end
it causes some volatility in the market
We have the dollar spot price today
Up to 0,33% to R$ 2,097
I'd like your opinion about the action by Central Bank in the exchange market
We indeed don't have floating rate anymore
For some time, stablished by market
a price range for the U.S. dollar stablished by the government
between R$ 2,00 and R$ 2,10
and market believes that this roof can rise to R$ 2,15, at least, in the first moment
Can you foresee when U.S. dollar can reach R$ 2,15?
The buying pressure must continue with the foreigh investors expectation
who don't have so much interest in Brazil like they used to in the past
let's remember that Brazil offers, today, interest rate under 2 digits
and the country's growth is not so optimistic like it used to be
China, for example, is offering numbers much better
and bigger growth expectation than Brazil
'What can we expect for the beginning of 2013, Caio?
There will be more buying pressure
And I believe that Dollar goes to R$ 2,15, the new roof of this exchange range
which market is waiting
What about the consequences to economy with this U.S. dollar price?
Generally, U.S. dollar is against our stock market
That is happening since government locked the price in this range
The foreigh currency doesn't impact like it did to the stock market in the past
I'd like your opinion about this Central Bank action. Is it right or not?
Central Bank has been working in these controls
and all of this have began due to the industrial production
which was unsatisfying and affecting the country's economy
I believe that the government will continue to do this, but, will easy soon
market has a stronger force and breaks these ranges
so government will easy this range soon
Caio Sassaki, waiting U.S. dollar to R$ 2,15 in the beginning 2013
Thank you for joining us on La Presse's website.
Thank you.
From BM&FBOVESPA's studios, São Paulo, Brazil, I'm Luciene Miranda
