Error in the value displayed by the technology giant is not unprecedented, but it gained greater prominence this time as it occurred on a closed market day
The Federal Attorney General’s Office (AGU) announced that it will request information from the Central Bank (BC) regarding the display of an incorrect dollar quote by the Google search engine this Christmas Wednesday. The platform presented the American currency at R$6.35, despite the markets being closed due to the holiday. The initiative aims to gather data that can support possible legal actions against the multinational responsible for the tool.
The error in the value displayed by Google is not unprecedented, but it gained greater prominence this time as it occurred on a day without negotiations. According to information, the most recent official price, registered on Monday (23), was R$6.1851. The most liquid futures contract, expiring in January 2025, ended at R$6.2050. The technology giant reported that real-time quotes come from third-party providers, such as Morningstar, a company specializing in investment research. In a statement, the platform stated that it was working with partners to correct any inconsistencies.
The dollar exchange rate has shown great volatility in 2024, amid the significant outflow of foreign capital and concerns about the Brazilian economy. The BC held extraordinary auctions to contain the appreciation of the American currency, including a spot auction of up to US$3 billion scheduled for this Thursday (26). Pressure on the exchange rate intensified after the announcement of a government fiscal package, which initially, in addition to spending cuts, included an Income Tax exemption project for salaries up to R$5,000. Although the measures were approved by Congress, adjustments to the text reduced the projected fiscal savings from R$71.9 billion to R$69.8 billion by 2026.
The interim president of the BC, Gabriel Galípolo, mobilized teams to respond to the AGU’s request. Communication between institutions will be carried out institutionally. The AGU’s intention is to better understand the impact of the error in the dollar exchange rate and evaluate possible measures against Google.
*Report produced with the help of AI
