Brazil Would Benefit From Weaker Currency, Coutinho Tells Folha

Luciano Coutinho, president of the state development bank BNDES, said Brazil has benefited from the recent weakening of its currency and a further drop would be better, according to newspaper Folha de S.Paulo.

Steep interest rates, one of the challenges that has long faced Brazilian industry, are coming down, Coutinho said, according an interview published today in the Sao Paulo-based newspaper. The nation is moving toward a level of interest rates compatible with its macroeconomic condition, he said.