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Cash and cash equivalents | 12 Months Ended
--- | ---
Dec. 31, 2023
Cash And Cash Equivalents |
Cash and cash equivalents |
6 | Cash and cash equivalents
Schedule of cash and cash equivalents |  |
| 2023 | 2022
Cash and bank deposits | 11,746 | 57,509
Cash equivalents | 541,284 | 1,035,573
Cash and cash equivalents | 553,030 | 1,093,082
Cash equivalents correspond mainly to financial investments in Bank Certificates of Deposit (“CDB”) with highly rated financial institutions and investments funds managed by highly rated financial institutions. As of December 31, 2023, the average interest on these investments is equivalent to 100.8% of the CDI rate (December 31, 2022: 99.21%). These funds are available for immediate use and have an insignificant risk of changes in value. Cash equivalents denominated in U.S. dollars totaled R$23,173 as of December 31, 2023 (December 31, 2022: R$24,447).

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