By Andrea Shalal
By Andrea Shalal
WASHINGTON, Nov 25 (Reuters) – Brazilian Financial system Minister Paulo Guedes stated on Monday that Brazil’s economic system was beginning to recuperate and he was not frightened about trade fee fluctuations that noticed the true shut the day at its weakest ever in opposition to the U.S. greenback.
“Now we have a floating foreign money, so it floats,” Guedes advised reporters in Washington, including that the foreign money dips in opposition to the greenback when rates of interest drop. The true closed on Monday at 4.215 reais to the greenback. BRBY
Guedes, who is because of meet with U.S. Treasury Secretary Steven Mnuchin on Tuesday, additionally stated there was no motive for concern concerning the Brazilian authorities’s present account deficit, which has grown to three% of gross home product, its widest since 2015.
Guedes met on Monday with Commerce Secretary Wilbur Ross, who he stated reaffirmed the U.S. dedication to backing Brazil’s bid to becoming a member of the Group for Financial Co-operation and Improvement (OECD) after Argentina.
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