Today the rate jumped 10 points at Banco Central exchange rate, to 32.08
I got exchnage house rate of 32.20 for 1k USD up from 31.95 on Thursday. Maybe the reduction of CD interest rates by Banco Central announced on Friday has made effect. Will need to see tomorrow's (Tuesday) and Wednesday rates to make some conculsion, as 10 point increase is not unusual, even though in the last 4 months there were maybe only 3 or 4 ten-points increases alltogether.
Generally a several percentage point interest rate reduction by a central bank SHOULD have reduction effect (the outflow of capital, or at least a reduction of inflow), and should result in raising the dollar exchange rate. That is, however, in NORMAL monetary markets under standard macroeconomic condictions.
