Brazil's rightist party accepts election result | NHK WORLD-JAPAN News - NHKニュース

Brazil's right-wing party has acknowledged that Flavio Bolsonaro, a senator from the party, lost the presidential election. However, Bolsonaro has not yet conceded defeat to his opponent.

The party issued a statement on Monday that it acknowledged the result of the country's presidential election. This comes after President Luiz Inacio Lula da Silva was reelected in Sunday's runoff against Bolsonaro.

Attention is now focused on Bolsonaro's next move. He signaled on social media on Monday that he would not accept Lula's victory.

US President Donald Trump, who has taken a stance close to that of Bolsonaro, said on Monday that the election appeared "rigged" without providing any evidence.

Local media report that Brazil's Supreme Court has banned Bolsonaro from leaving the country.

Meanwhile, Lula's victory defied opinion polls and triggered a sharp decline in the Brazilian real on currency exchange markets. The view was that public expenditures would balloon under the leftist government and lead to a deterioration of Brazil's fiscal health.

Reuters news agency reports that the real fell more than 8 percent against the dollar, marking the largest drop over the course of a day since 2002.

Sao Paulo's benchmark index posted the largest drop since 2020.