Brazil Ready to Fix Exaggerated Currency Gains, Mantega Says
This article is for subscribers only.
Brazil’s government is ready to prevent the exchange rate from having exaggerated gains, Finance Minister Guido Mantega said today, after the real this week strengthened to beyond 2 per dollar for the first time since July.
The real shouldn’t be used as a tool to reduce prices, and a weaker currency helps make domestic industry more competitive, Mantega said.