The attack against Brazilian government offices poses risks to Brazil’s currency and its stock market, said one analyst.
Brazil’s currency dropped against the US dollar on Monday after supporters of former president Jair Bolsonaro stormed government buildings in the capital on Sunday on claims he lost his recent election because of fraud.
At least 1,200 protesters have been detained for questioning, a Brazilian civil police spokesperson told The New York Times on Monday.
The drop in Brazil’s real pushed the dollar up by as much as 1.6% to buy 5.308 reals. The greenback later pared its gain to 0.6%, fetching 5.2582 reals.
In a three-hour riot, protestors in the capital Brasilia ransacked the country’s national congress, the presidential palace, and the Supreme Court, Reuters reported. The attack sparked comparisons to the riot at the US Capitol in 2021 led by supporters of Donald Trump who believed he was denied a second term in office because of election fraud.
