The Brazilian real saw gains against the U.S. dollar on Thursday, February 15, following the central bankS move to liquidate Reag Trust Distribuidora de Títulos Valores Mobiliários amid ongoing investigations into alleged financial crimes. The liquidation, linked to the already troubled Banco Master, signals a continued crackdown on financial irregularities within Brazil’s banking sector. Market sentiment was also influenced by fluctuating global conditions, including geopolitical tensions and statements from U.S. President Donald Trump regarding the Federal Reserve.
The Brazilian real gained ground against the U.S. dollar on Thursday, February 15, as investors reacted to the central bank’s decision to initiate the extrajudicial liquidation of Reag Trust Distribuidora de Títulos Valores Mobiliários, formerly known as CBSF. The move comes amid ongoing scrutiny of financial irregularities linked to the Banco Master, which is also undergoing liquidation. Globally, the dollar presented a mixed performance against emerging market currencies.
Geopolitical factors continue to influence market sentiment, alongside tensions between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell.
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At 12:45 PM local time, the Brazilian real strengthened, with the spot dollar BRBY trading down 0.41% at R$5.379. On the B3 exchange, the February dollar futures contract DOLc1 – currently the most liquid in Brazil – fell 0.22% to R$5.4060. This reflects increased investor confidence following the central bank’s action.
On Wednesday, February 14, the dollar closed at R$5.4012, up 0.47%.
Commercial Dollar
- Buy: R$ 5.379
- Sell: R$ 5.379
Prior to the session’s opening, the Central Bank announced the extrajudicial liquidation of Reag Trust Distribuidora de Títulos Valores Mobiliários, rebranded as CBSF, a firm connected to the fraudulent activities at Banco Master, also in liquidation. The central bank stated that the liquidation of Reag was prompted by “serious violations of the rules” governing the financial system.
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On Wednesday, a Federal Police operation investigating fraud at Banco Master targeted João Carlos Mansur, the co-founder of the Reag group. He recently stepped down from the company after Reag was subject to a search and seizure warrant as part of a large-scale operation investigating a multi-billion dollar scheme involving fraud and money laundering in the fuel sector.
At the session’s open, the Brazilian Institute of Geography and Statistics (IBGE) reported that retail sales in Brazil rose 1.0% in November compared to October, and 1.3% year-over-year compared to November 2024. These figures exceeded market expectations, according to a Reuters survey, which had projected increases of 0.30% and 0.20%, respectively.
Internationally, President Trump stated in an exclusive interview with Reuters that he has no plans to remove Powell despite a criminal investigation by the Department of Justice into the Fed chair. However, he added that it is “too early” to say what he will ultimately do.
“I have no plans to do that,” Trump said when asked if he would attempt to remove Powell from his position.
Trump also said that Ukraine – and not Russia – is preventing a potential peace agreement and, at other points in the interview, threatened to intervene in support of protesters in Iran.
“Today, with the reduced perception of risk of U.S. military action against Iran, after the Iranian regime halted executions of protesters, (investors) are rekindling risk-on sentiment in the market,” said Marcio Riauba, head of trading at StoneX, in a written commentary. “Another piece of news (that) contributes to a general cooling of risks was Donald Trump’s statement that he also does not intend to dismiss the Fed chairman.”
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(With Reuters)
