Google displayed, for a good part of this Christmas Wednesday (25), the wrong exchange rate for the dollar.
José Faria Júnior, CEO of Wagner Investimentos, explained during the WW that the situation is atypical due to the holiday. “Today is a day when the markets are indeed closed. The Brazilian market will only open tomorrow (Thursday, 26th) at 9am”, said the expert.
Although Google shows the dollar at a price of around R$6.40, there were no transactions with the currency at this value this Wednesday.
Businesses involving foreign exchange in Brazil follow the Ptax rate — a reference for contracts denominated in real on commodity exchanges abroad —, published daily by the Central Bank (BC).
“With the lack of liquidity, with the lack of business (…), I think the most reasonable thing is to even disregard (the quote)”, said José Faria Júnior.
Google’s display of a dollar exchange rate close to R$6.40 led the Attorney General’s Office (AGU) to request clarification from the Central Bank, while Google temporarily removed the exchange rate from its platform.
The expectation is that, with the reopening of the markets, the price will return to reflect values closer to the previous Monday’s closing.
Google reported that it uses data from external platforms for its quotes, and the lack of regular trading in the market may have led to the display of values that are not representative of the reality of the exchange rate.
