Guedes Blames Bullish Dollar on Media ‘Fuss’

RIO DE JANEIRO, BRAZIL – The Minister of Economy, Paulo Guedes, blamed the press for the dollar’s upward spiral.

According to Guedes, the “fuss” caused by the press influences the rise of the dollar: “This [exchange rate fluctuation] was perfectly predictable. Well, [the dollar] is going up to 4.30, 4.40. There’s the Coronavirus, the slowdown of the world economy, there’s the uncertainty.”

“There was the uncertainty, what were you all saying just one, two days ago? There’s a clash between Congress and the President, there’s no political coordination, I mean, if there’s all this fuss, the dollar goes up a bit,” the Minister said.

Guedes and President Jair Bolsonaro took part in a meeting with business leaders from a number of sectors at the Federation of Industries of São Paulo (FIESP).

Source: Valorinveste

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