The Real will return to a more suitable level if Congress collaborates with the fiscal agenda, says Haddad.
According to the Finance Minister, the real was heavily devalued and the recent fall in the dollar is "natural".
Reuters - Finance Minister Fernando Haddad said on Friday that he had always considered the real to be heavily undervalued and viewed the recent fall in the dollar as "natural," adding that the domestic currency could reach even more "appropriate" levels if Congress cooperates with the government's fiscal recovery agenda.
The US dollar is on track to close this week sharply lower and well below the psychological mark of 5 reais, partly due to a favorable external environment, but also reflecting investors' positive reaction to the government's proposed new fiscal framework.
This morning, around 11:15 AM, the dollar was trading at 4,9570 reais for sale.