The U.S. dollar traded within a narrow range against the Brazilian real on Wednesday morning, following the release of the IPCA-15 inflation index that showed a larger-than-expected deflationary print for August.
At 09:13 a.m. local time, the spot dollar was up 0.09% at R$5.1460 on the sell side, while the most liquid September futures contract on B3 fell 0.09% to R$5.1495. The previous session’s close saw the dollar down 0.23% at R$5.1414.
The IPCA-15, Brazil’s mid-month consumer price index, indicated deeper deflation than anticipated, contributing to the muted dollar-real movement. The currency pair’s stability reflected broader mixed signals in the U.S. dollar’s performance against other major currencies globally.
Brazil’s central bank is scheduled to conduct a foreign exchange swap auction at 11:30 a.m., rolling over 60,000 contracts maturing on September 1.
