Brazil BNDES chief says sustainable FX rate is 2.2-2.35 per dollar
RIO DE JANEIRO
RIO DE JANEIRO Aug 22 (Reuters) - Brazil's BNDES development bank chief Luciano Coutinho said on Thursday a "sustainable" exchange rate for the country would be between 2.2 and 2.35 reais per dollar.
That range would be beneficial to exporters without bringing excessive inflation pressure, he told reporters at an event in Rio de Janeiro.
The real currently trades at around 2.44 per dollar after a recent sell-off drove it to its weakest levels in nearly five years.
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Pope Francis named Time's Person of the Year |
- Uruguay becomes first country to legalize marijuana trade
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls