Brazil’s currency falling to a three-year low is “great news for exporters,” according to the country’s trade minister Fernando Pimentel.
The real weakened almost 1.67 per cent on May 22 (closing at 2.08 to the US dollar), its lowest since May 2009, when it reached 2.10. New rules introduced later this month are expected to free as much as 18 billion reales ($8.8 billion) for auto-financing to boost Latin America’s biggest economy.
