November 23, 2012 / 1:10 PM / 5 years ago

Brazil real weaker than 2 per dollar "here to stay" - Mantega

SAO PAULO, Nov 23 (Reuters) - Brazil’s exchange rate is currently at a reasonable though not totally satisfactory level, Finance Minister Guido Mantega said on Friday, adding that a real weaker than 2 per U.S. dollar is “here to stay.”

The Brazilian real on Friday weakened past the level of 2.1 per dollar, widely seen as the limit of an informal trading band, as investors tested the central bank’s tolerance to a weaker currency.

Mantega also said inflation in Brazil is under control, which could allow for more expansionist monetary policy in Latin America’s largest economy.

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