Será apontado um novo time de dirigentes da Petrobrás que herdará uma companhia envolvida em um gigantesco escândalo de corrupção.
A Fitch Ratings disse que a chegada de um novo time de dirigentes na Petrobrás pode levar a companhia mais próximo de restaurar a credibilidade com os investidores.
byFilipe Pacheco February 5, 2015
(Bloomberg) -- Brazil’s real declined to a 10-year low as the board of state-controlled Petroleo Brasileiro SA prepared to appoint a new management team that will inherit a company embroiled in the nation’s biggest corruption scandal.
The real slid 0.1 percent to 2.7454 per dollar at the end of TRADE
in Sao Paulo, the weakest level since March 2005. The local tender was headed for a 2.3 percent weekly decline, the worst performance among 31 major currencies tracked by Bloomberg.
“Investors are expecting a market-friendly name as the new CEO for Petrobras,” Joao Paulo de Gracia Correa, a TRADER
at Correparti Corretora de Cambio in Curitiba, Brazil, said in a telephone interview. “Still, we see a lot of uncertainty, and that is reflected in trading.”
One-month implied volatility on options for the real, reflecting projected shifts in the EXCHANGE RATE
, was the highest among 16 major currencies tracked by Bloomberg. Petrobras’s Chief Executive Officer Maria das Gracas Foster resigned Wednesday as federal police investigated allegations of kickbacks, bribes and inflated construction contracts at the company. Foster isn’t implicated.
Swap rates, a gauge of expectations for changes in borrowing costs, advanced 0.02 percentage point to 12.83 percent on the contract maturing in January 2016
To support the real and limit import price increases, Brazil sold the equivalent of $98.1 million of currency swaps Thursday and rolled over contracts worth $631.3 million. The central BANK plans to offer as much as $100 million a day until at least March 31.
Petrobras Valuation
Investors are reeling from Petrobras’s turmoil. Once worth $310 billion in 2008, making it the world’s fifth-largest company, the oil producer now has a valuation of $48 billion.
The benchmark Ibovespa STOCK index has dropped every year since a rally in 2009 as the company sold imported gasoline at a discount under policies to curb inflation and repeatedly missed output goals.
TRADING in the real will tend to follow developments in the probe of Petrobras until there is a decision on the new CEO, Eduardo Velho, the chief economist at INVX Global Partners, said in a telephone interview from Sao Paulo.Fitch Ratings said in a statement Wednesday that the arrival of a new management team at Petrobras may move the company closer to restoring credibility with investors.